The Asian Development Bank plans to raise its annual contributions to Sri Lanka to about US$ 250 mn and is also keen the government steps up its aid disbursement ratio.
The regional development banks assistance to Sri Lanka averages at around US0 mn a year.
But in 2002, the banks lending programmed topped US$ 240 mn, with the onset of the ceasefire and the kick-start of the economic reform agenda.
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rnSri Lankas aid utilisation has been traditionally low and funds available at concessionary rates go a begging. A taskforce headed by Ken Balendra was put in place last year, which in turn set up a lquote pool fund for capital expenditure.
rnUnder the pool, projects that utilises funds more quickly are allowed to draw on counterpart funds without having to wait for a supplementary budget passed by Parliament. rn
rnHowever, many agencies were not fully aware of the pools operations and so it was not widely used. rn
rnThe pool arrangements are being refined in 2003 and information on them more b