Liberia Joins World Bank’s RAMP to Boost Public Asset Management Capacity

The partnership was formalized through the signing of a technical assistance agreement in Washington, D.C., between representatives of the Central Bank of Liberia and the World Bank.

In a significant move to bolster its economic resilience and institutional capacity, the Central Bank of Liberia (CBL) has officially joined the World Bank’s Reserve Advisory & Management Partnership (RAMP). This marks a major milestone in Liberia’s efforts to modernize public asset management and adopt international best practices in reserve management.

The partnership was formalized through the signing of a technical assistance agreement in Washington, D.C., between representatives of the Central Bank of Liberia and the World Bank. This development positions Liberia among a growing group of nations seeking tailored financial guidance and institutional strengthening under the RAMP umbrella.

A Landmark Agreement for Fragile and Low-Income States

CBL’s accession to RAMP was made possible through a recently launched World Bank Group multi-donor trust fund aimed at enabling participation from lower-income, fragile, and conflict-affected countries. Announced in late 2023, this trust fund expands the World Bank’s ability to provide targeted support and expertise in public asset management, specifically in countries with limited access to such advisory services due to structural or financial constraints.

According to Jorge Familiar, Vice President and Treasurer of the World Bank, “We are honored to welcome the Central Bank of Liberia to RAMP. 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. With support from our development partners through the donor-funded trust fund, we can extend RAMP’s benefits to countries where it is needed most.”

RAMP, managed by the World Bank Treasury, has been instrumental since its inception in 2001 in offering customized advisory services, asset management training, and capacity development to over 70 members globally, including central banks, sovereign wealth funds, and public pension funds.

Liberia's Vision for Sustainable Financial Management

The Central Bank of Liberia, under the leadership of Executive Governor Henry F. Saamoi, sees this partnership as pivotal to Liberia’s broader strategy for financial stability and inclusive growth.

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

This commitment comes at a time when Liberia, like many countries emerging from conflict and rebuilding their economies, is seeking sustainable and resilient financial systems to buffer against global economic shocks and ensure long-term development.

Supporting Institutional Growth and Resilience

The collaboration also aligns with the World Bank’s broader strategic goals for Liberia. Georgia Wallen, the World Bank Country Manager for Liberia, highlighted the importance of the partnership in supporting national goals.

“We are proud to support the Central Bank of Liberia in building institutional capacity and advancing financial resilience,” Wallen noted. “This collaboration is a testament to our shared commitment to robust reserve management as a foundation for development.”

By joining RAMP, Liberia will gain access to a wealth of technical assistance, including customized training in portfolio management, strategic asset allocation, and risk analysis. These tools are essential for strengthening financial institutions in developing economies and ensuring that public assets are managed prudently.

Looking Ahead

As Liberia continues its post-conflict recovery and works to enhance economic governance, the CBL’s inclusion in RAMP represents more than just a technical agreement — it signifies a long-term commitment to global financial standards, transparency, and sustainable growth.

With the support of the World Bank and its development partners, Liberia is set to benefit from a tailored program that not only enhances its internal capabilities but also integrates the nation more closely with the international financial community. The country now joins a coalition of proactive states harnessing the power of strategic asset management to chart a more stable and prosperous economic future.