Sri Lanka seeks to double ADB funding
The Sri Lankan government is engaged in talks with the Asian Development Bank, seeking to double its annual funding to $1.2bn.
Finance Minister Ravi Karunanayake said the funds would be utilised by the government for development initiatives, budgetary allocations, capacity development and debt relief, LBO reported.
“We used to get $300 – 350mn annually as funds,” Mr Karunanayake told reporters at a press conference on Thursday.
“Now we are in talks with them to get it increased to $1.200mn,” he said.