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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.
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“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.
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5 percent for 2015, in its annual economic publication of Asian development outlook 2014.