The funds would be utilised by the Government for development initiatives, budgetary allocations, capacity development and debt relief, he said.
“We used to get 300 – 350 million US dollars annually as funds,” Karunanayake told reporters at a press conference on Thursday.
“Now we are in talks with them to get it increased to 1200 million,”
However in a recent press conference, ADB said that Sri Lanka’s gross domestic growth would slow to 7 percent in 2015.“Due to the prevailing political uncertainty, investments would be affected and it is very difficult for us to make an economic growth prediction,” Tadateru Hayashi , Senior Country Economist for Sri Lanka, ADB said.
Earlier, the ADB predicted a growth of 7.5 percent for 2015, in its annual economic publication of Asian development outlook 2014.