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.

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,

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,

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