WASHINGTON April 22, 2024 - The World Bank announced the Central Bank of Bosnia and Herzegovina (CBBH) joined the Reserve Advisory & Management Partnership (RAMP). Representatives from CBBH and the World Bank signed the legal agreement making the Central Bank the newest RAMP member. The Central Bank will receive advisory, training, and asset management services, while joining a broad global network of over 70 public asset management institutions. World Bank RAMP specialists will provide onsite assistance with governance, strategic asset allocation, portfolio and risk management, and foreign currency hedging instruments.
"We are looking forward to a long partnership with the Central Bank of Bosnia and Herzegovina as they advance their reserve management capabilities," said Jorge Familiar, World Bank Vice President & Treasurer. "As the trusted partner for public asset management, the World Bank stands ready to collaborate with the Central Bank for the benefit of the country."
"By concluding this Agreement, the Central Bank of Bosnia and Herzegovina takes an important step forward in strengthening its operational capacities in the area of foreign exchange reserve management. Cooperation with the World Bank, which provides expertise and experience, is a significant support to our efforts to improve the efficiency and compliance of foreign exchange reserve management with the highest international standards," said Jasmina Selimović, Governor of the Central Bank of Bosnia and Herzegovina. "We greatly appreciate the opportunity to cooperate with the World Bank through its Reserve Advisory and Management Partnership."
World Bank RAMP
The World Bank Reserve Advisory & Management Partnership program delivers advisory services, executive training, and asset management services in a global network of public asset managers, contributing to the Sustainable Development Goals of quality education, decent work and economic growth, climate action, strong institutions, and partnerships. Established in 2001, RAMP promotes countries' stability, resiliency, and prosperity through public asset management advisory. With over 70 members, RAMP membership includes central banks, international financial institutions, public pension funds, and sovereign wealth funds. In the context of RAMP, the World Bank has advised over 100 public institutions and trained over 10,000 public asset management staff on sound public asset management practices. Learn more at ramp.worldbank.org.
World Bank Asset Management
The World Bank is the trusted partner for public asset managers and the largest external asset manager in the development community, with nearly $200 billion of assets under management. As a global fixed-income leader, the World Bank has advised member countries on asset management since the early 1980s. Central banks and public asset managers manage over $40 trillion in reserves and assets worldwide, underscoring their importance in the global financial system and the need for high-quality asset management & advisory services. Learn more at worldbank.org/assetmanagement.
