After the bribery allegations came to light last month, the US agency said it was still conducting due diligence and hadn’t reached a final agreement on the loan.
Embattled billionaire Gautam Adani pulled out of a loan deal with an American agency to fund a port terminal in Sri Lanka’s capital, ending an agreement hailed a year ago as an effort by India and the US to counter China’s growing influence in the region.
An entity majority-owned by Adani, who was indicted in US courts last month, said in a company filing on Tuesday that it was exiting talks on a loan valued at US$553 million ($742.77 million) from the US International Development Finance Corporation.
