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The U.S. International Development Finance Corporation (DFC) has committed more than half a billion dollars to support the development of a deepwater shipping container terminal in the Port of Colombo in Sri Lanka.
DFC Chief Executive Officer (CEO), Scott Nathan, traveled to Sri Lanka recently to launch $553 million in financing to Colombo West International Terminal Private Limited to support the development of the deepwater West Container Terminal located within the Port of Colombo.
Foreign Minister Ali Sabry and U.S. Ambassador to Sri Lanka Julie Chung joined CEO Nathan for the ceremonial launch of the new terminal.
“DFC works to drive private-sector investments that advance development and economic growth while strengthening the strategic positions of our partners. That’s what we’re delivering with this infrastructure investment in the Port of Colombo,” said DFC CEO, Scott Nathan .
U.S. Ambassador to Sri Lanka, Julie Chung , added: “The $553 million investment by DFC for the long-term development of the Port of Colombo’s West Container Terminal will facilitate private- sector-led growth in Sri Lanka and attract crucial foreign exchange inflows during its economic recovery.”
The Port of Colombo is the largest and busiest transshipment port in the Indian Ocean. It has been operating at more than 90 percent utilization since 2021, signaling its need for additional capacity.