WASHINGTON – 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.”