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. International Development Finance Corporation is evaluating the implications of recent bribery allegations against Gautam Adani, founder of the Adani Group, on its prior commitment to lend over $550 million for a port development project in Sri Lanka.

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.

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,