In a strategic move to strengthen its financial resilience and enhance public asset management, the Central Bank of Liberia (CBL) has officially joined the World Bank’s Reserve Advisory & Management Partnership (RAMP). 

The partnership was formalized through a technical assistance agreement signed in Washington, DC, marking a milestone in Liberia’s financial sector development.

The inclusion of CBL into RAMP is facilitated by a World Bank Group multi-donor trust fund, designed to extend asset management expertise to lower-income, fragile, and conflict-affected countries. The trust fund, announced in late 2023, removes financial and technical barriers for eligible countries, allowing them access to global best practices in reserve management.

“We are honored to welcome the Central Bank of Liberia to RAMP,” said Jorge Familiar, World Bank Vice President and Treasurer. “Their joining reflects the growing demand for high-quality asset management support and recognition of the World Bank as the trusted partner for public asset managers.”

The move is expected to significantly boost Liberia’s institutional capacity in managing its reserves and public assets a critical step toward economic stability and growth.

“Joining the World Bank RAMP is a significant step forward for Liberia,” said Henry F. Saamoi, Executive Governor and Chairman of the Board of Governors of the Central Bank of Liberia. “This partnership will enhance our capacity to manage public assets effectively, ensuring stability and fostering growth. We are committed to implementing reserve management best practices to benefit the Liberian people.”

World Bank Country Manager for Liberia, Georgia Wallen, emphasized the long-term value of the collaboration, noting, “We are proud to support the Central Bank of Liberia in building institutional capacity and advancing financial resilience. This collaboration is a testament to our shared commitment to robust reserve management as a foundation for development.”

Since its establishment in 2001, RAMP has delivered advisory services, executive training, and asset management support to over 100 public institutions worldwide. The program supports the Sustainable Development Goals (SDGs), including quality education, decent work and economic growth, climate action, and strong institutions.

With over $40 trillion in public assets managed globally by central banks and public asset managers, the partnership underscores the critical need for sound, forward-looking asset management strategies, particularly in vulnerable economies.

As Liberia joins the global RAMP network, the country positions itself to benefit from decades of accumulated expertise in navigating financial shocks, protecting intergenerational wealth, and ensuring sustainable economic progress.