Governor of the National Bank of Georgia (NBG), Natia Turnava, met with Robert Lucas, Head of the World Bank Reserve Advisory & Management Partnership (RAMP).

According to the bank’s press office,  the discussions centered on the critical importance of building and maintaining adequate reserves within central banks. “The participants emphasized the vital role of international currency reserves in safeguarding a country and its financial system against crises triggered by stressful events.”

Natia Turnava highlighted the tangible progress achieved through the NBG’s cooperation with the World Bank’s RAMP program. She noted that, with RAMP’s support, the NBG had significantly enhanced its reserve management practices, transitioning from a basic “buy-and-hold” approach to more sophisticated, active investment strategies.

“Through our partnership with the World Bank Treasury RAMP program, the National Bank of Georgia has transformed its foreign exchange reserve management in line with global best practices. We have introduced world-leading methods and standards, allowing the NBG to establish its place among the leading central banks in reserve management,” Turnava stated.

Robert Lucas, in turn, reaffirmed RAMP’s commitment to ongoing collaboration, pledging continued support through experience sharing, reform assistance, and technical expertise.

“It is worth noting that the National Bank of Georgia has been a member of the RAMP program since 2009, with the partnership agreement most recently renewed for another three years in October 2024. The NBG actively engages with RAMP colleagues, participating in both study visits and hosting delegations as part of this collaborative effort.

Launched in 2001, the World Bank Reserve Advisory and Management Partnership (RAMP) assists central banks, sovereign wealth funds, and public sector institutions worldwide in strengthening the management of their foreign exchange reserves,” reads the statement.