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Adani Group’s sudden reversal: Rejecting a US loan to develop Sri Lanka’s port, a move that comes amid controversy surrounding Gautam Adani’s reputation in the US.

Adani Group, led by industrialist Gautam Adani, has announced that it will not seek funding from the US International Development Finance Corporation (DFC) for its Colombo West International Terminal (CWIT) project in Sri Lanka. The DFC had agreed to a $553 million...