The World Bank, through its Reserve Advisory & Management Partnership (RAMP) program, has been working in collaboration with the Bank of Tanzania (BoT) to provide training and advisory services on matters related to the country's reserve management.

Through these programs, staff at the BoT have been building their capacity in various aspects of reserve management, particularly in addressing challenges facing the sector. The training includes both theoretical and practical components conducted in Washington, DC, in the United States.

Speaking during a meeting with the Governor of BoT, Emmanuel Tutuba, Therese L. Couture, the Director of the Resource Advisory and Management Division at the World Bank, stated that the World Bank will continue its partnership with BoT by providing ongoing training. The World Bank plans to conduct approximately 27 training sessions this year, involving participants from various countries worldwide.

In response, Governor Tutuba expressed gratitude to the World Bank for their significant support in providing BoT staff with essential training on the proper management and supervision of the country's reserves. These training programs have been instrumental in capacity building for BoT staff, enabling them to fulfill their responsibilities effectively.

Furthermore, Governor Tutuba used this opportunity to request the World Bank to increase the number of participants from Tanzania to 15 per year. 

"This year, two staff members had the opportunity to attend these training sessions, as was the case last year. However, the Central Bank has hired new staff members in the reserve management unit. These employees need capacity building through knowledge exchange with staff from other Central Banks to learn how other countries tackle various challenges related to reserve management," said Governor Tutuba.

Governor Tutuba thanked the World Bank for choosing Tanzania as the host for this year's training, scheduled to take place in Zanzibar from October 23 to 27, 2023. He emphasized that BoT, as the host, is ready to provide the necessary support to ensure the success of these training sessions