Georgia’s Pension Agency joins World Bank Treasury programme of advisory services, asset management

Georgia’s Pension Agency on Friday said it had joined the Reserves Advisory and Management Programme, a capacity building programme managed under the World Bank Treasury.

As part of the programme, the Agency will receive technical support from the Treasury in investment management, including governance, portfolio and risk management, asset placement strategy and investment operational direction, the body said.

By participating in the mentioned programme, the Pension Agency will receive unique support from the World Bank Treasury to improve the investment management processes. The World Bank's experience in managing public assets will help us achieve the strategic goals of the Agency, and we look forward to actively participating in the programme”, Giorgi Chichinadze, the Acting Director of the Agency, said.

Jorge Familiar, the Vice President of the World Bank, welcomed the Pension Agency on joining the RAMP.

We are honoured to have their trust. The Pension Agency will participate in this global association of public asset managers. We look forward to working with the Pension Agency and sharing with them the World Bank's decades of experience in asset management”, he said.

The RAMP is composed of central banks, sovereign wealth funds, pension funds and other international organisations. Since 2009, the National Bank of Georgia has been a member of the Programme, while the Pension Agency makes it the second organisation from Georgia in its ranks.