The Central Bank will open a branch in the Northern Province to promote the economic activities in the region.
Economic Development Minister Basil Rajapaksa on Monday laid the foundation for the construction of a 9-storied building in Kilinochchi to house the Northern Province Central Bank branch.
"Under the first phase of the project, the nine storied building with a length of 30 feet 60 feet width will be built. The total cost of the project estimated to be around at Rs. 150 million," Central Bank Governor Ajith Nivard Cabraal said.
The planned building will comprise a training center, fully equipped auditorium with a seating capacity of 200, office rooms and a Central Bank publications center.
The second phase will include a residential house for the Central Bank Kilinochchi Regional Manager and residential quarters for bank employees.
The Central Bank has provincial offices in the Southern, North Central, Central, Eastern and Northern provinces.