US Announces $17 Million Investment to Modernize Colombo Port

COLOMBO (News 1st); The United States has announced USD 17 million in assistance to support the digital transformation of the Port of Colombo, with the initiative set to introduce American technology aimed at improving efficiency, reducing delays and strengthening Sri Lanka's role in global trade.

Making the announcement, Eric Meyer, the United States Ambassador to Sri Lanka, said the funding will help advance the modernization of Colombo Port and improve the movement of goods through one of South Asia's busiest maritime hubs.

According to Ambassador Meyer, the initiative is intended to reduce waiting times for ships and streamline port operations, which in turn could lower costs for businesses and consumers while enhancing trade connectivity.

He noted that every minute a vessel spends waiting at a port carries a cost, ultimately affecting supply chains, businesses and consumers. By introducing American technology to the Port of Colombo, he said Sri Lanka will be better positioned to move goods faster, improve logistics management and strengthen economic growth.

Ambassador Meyer made the remarks following a visit to the Port of Colombo, where he observed port operations and discussed the importance of improving efficiency in global trade networks.