A U.S. agency that agreed to lend more than $500 million to a Sri Lanka port development backed by the Adani Group said it is still conducting due diligence on the project in the wake of bribery allegations against the group's billionaire founder Gautam Adani and other top executives,

A US agency that agreed to lend more than $500 million to an Adani Group-backed port development in Sri Lanka said it’s still conducting due diligence on the project, following bribery allegations against the conglomerate’s billionaire founder and other top executives.

The U.S. agency is performing due diligence on Adani Group's involvement in a Sri Lanka project. Bloomberg News suggests this oversight reflects the project's significance and potential implications for U.

In value terms, India’s power exports to Bangladesh had crossed $1 billion, almost 10 per cent of India’s total exports to its neighbour.

Sri Lanka should be vigilant about the Adani power project in the island, experts said, after Federal prosecutors in New York indicted Group Chairman Gautam Adani and seven others on multiple counts o

This year, Sri Lanka entered a power purchase deal with Adani Green Energy Ltd. In terms of the agreement, the country will purchase electricity from the company over 20 years. The Adani Green Energy project received cabinet clearance from the previous government to produce 484 megawatts of wind power in two facilities the company would build in Mannar and Pooneryn and invest more than US$442 million in its projected life span of 20 years.

Last November, the agency said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by India's Adani Group

Despite a recent indictment against Adani Group, the Sri Lankan government is considering moving forward with a deepwater container terminal project in Colombo. The project, a joint venture involving Adani,