WASHINGTON, DC January 18, 2024 – The World Bank announced the Central Bank of the Republic of Armenia (CBA) rejoined the Reserve Advisory & Management Partnership (RAMP). CBA was a RAMP member from 2006 to 2014, during which it made numerous improvements to front-, middle-, and back-office investment operations. CBA is rejoining RAMP for advisory services, training resources, and a broad global network of over 70 public asset management institutions. The renewed membership with RAMP will provide onsite expertise to enhance reserve management operations and train new CBA staff.
“We are delighted to welcome back the Central Bank of Armenia to RAMP. We are honored to have their trust and participation in the Partnership,” said Jorge Familiar, World Bank Vice President & Treasurer. “RAMP stands ready to support member countries because sound public asset management is a critical pillar to a country’s stability, resiliency, and prosperity.”
“We are excited to rejoin RAMP as our past experience in the Partnership was a success story. We view our collaboration with the World Bank as a clear path to excellence in public asset management on the global level”, said Martin Galstyan, CBA Governor. “We look forward to this partnership because strong reserve management practices benefit our central bank, economy, and nation.”
Reserve Management & Advisory Partnership (RAMP)
RAMP 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 is the oldest and largest central bank partnership dedicated to improving reserve management. RAMP has advised over 100 public institutions and trained over 5,000 public asset management staff on sound public asset management practices.
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 over $180 billion of assets under management. As a global fixed-income leader, the World Bank has advised member countries on reserve management since the early 1980’s. Sound public asset management contributes to countries' stability, resiliency, and prosperity. Central banks and public asset managers manage over $40 trillion in reserves and assets worldwide, underscoring their importance in the global financial system.