More than half a billion dollars have been committed by the U.S. International Development Finance Corporation (DFC) to support the construction of a deepwater shipping container terminal in the Port of Colombo, Sri Lanka, which will supply vital infrastructure for the South Asian region. This announcement was made today.
“DFC’s dedication to financing top-notch infrastructure that supports its partners’ development needs, invests in local communities, and is considerate of local financial conditions is reflected in the new terminal.”
The US Embassy said in a statement that the investment “further demonstrates the United States’ enduring commitment to Sri Lanka’s economic growth and its regional economic integration, including with India.”
Scott Nathan, the CEO of DFC, visited Sri Lanka to introduce Colombo West International Terminal Private Limited to $553 million in funding to assist the construction of the deepwater West Container Terminal inside the Port of Colombo. CEO Nathan was accompanied at the new terminal’s ceremonial opening by Foreign Minister Ali Sabry, President’s Chief of Staff and National Security Advisor (NSA) Sagala Ratnayaka, and U.S. Ambassador to Sri Lanka Julie Chung.
“DFC strives to encourage private sector investments that bolster our partners’ strategic advantages while promoting development and economic progress. With this infrastructural investment in the Port of Columbo, we’re delivering on that promise’, DFC CEO Scott Nathan stated.
