Sri Lanka central bank to restore second historic building

June 02, 2011 (LBO) – Sri Lanka’s central bank which has restored a historic building in Colombo city’s old quarter which features colonial era architecture will begin work on a second building that it has bought, a top official said. The central bank officially opened ‘Lloyds Building’ in Sir Baron Jayetilleke Mawatha in Colombo’s Fort area which was built in 1908, after buying it from private owners in 2009.

The central bank has also bought another building in the vicinity which was earlier owned by state-run Co-operative Wholesale Establishment, which is defunct. The building is now occupied by a police VIP security unit.

“We will restore the building when it is vacated,” Central Bank Governor Nivard Cabraal said.

The Navy is expected to carry out the restoration work and make sure that the building was structurally sound, he said.

On Wednesday the Sri Lanka’s defence secretary Gotabhaya Rajapaksa, who is also overseeing a city beautification plan through an urban development agency opened the building, which will be occupied by Central Bank’s Employees Provident Fund unit.

The central bank bought the building from United Ceylon Insurance Co. Ltd which had owned the building since 1957. The Central Bank ha