SLC treasurer Sujeewa Rajapakse was of the view that unlike India and Bangladesh, Sri Lanka had to work on its venues from scratch.
Rajapakse confirmed that the richest sports body in the country has sought grant from the Government and the country's leading banks.
Sri Lanka, along with India and Bangladesh, were the co-hosts of the 2011 World Cup.
The initial cost for the building of the new venue in President Mahinda Rajapaksa's hometown, Hambantota, and renovating other two venues in Colombo and Kandy was estimated at 3.5 billion Sri Lanka rupees (approximately 14 crore Indian rupees).
By the end of the construction, though, the cost had exceeded the said amount.
The Daily Mirror recently said that the government had agreed to help SLC with a grant of 325 million Lankan rupees.
The newspaper also reported that the Board is also struggling to pay salaries to workers as a result of the debt.
While SLC has already held a few rounds of discussions with the Government and the sports minister on how to settle the crisis, the ICC, according to BBC Sinhala, said venue construction is a matter of the host Board.
"There is a hosting fee based on the number of matches that a particular member stages. We do not discuss the details of that agreement," an ICC spokesman said.
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