WASHINGTON April 16, 2024 - The World Bank announced the Central Bank of Cabo Verde (CBCV) as the second beneficiary of a multi-donor trust fund for advancing public asset management worldwide. Representatives from CBCV and the World Bank signed the technical assistance agreement, which delivers technical advisory services under the World Bank's Reserve Advisory & Management Partnership (RAMP).
Announced in October, the trust fund brings the World Bank's public asset management expertise to lower-income, fragile, or conflict-affected countries that could not otherwise afford it. The Central Bank of Cabo Verde joins the Central Bank of Kosovo as the two beneficiaries of the trust fund. CBCV becomes the 75th member of the Partnership's global network of public asset managers.
"A warm welcome to the Central Bank of Cabo Verde as the newest RAMP member supported by the trust fund," said Jorge Familiar, World Bank Vice President & Treasurer. "We are grateful for the continuous support and generosity of the Norwegian Agency for Development Cooperation (Norad) to share our asset management expertise, expanding RAMP's global impact."
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.
