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Business News of Saturday, 18 September 2021

Source: 3news.com

World Bank to discontinue ease of Doing Business report

The World Bank The World Bank

The World Bank has announced that it  has taken the decision to  discontinue the  Doing Business report.

After  data irregularities on Doing Business 2018 and 2020 were reported  internally in June 2020, World Bank management paused the next Doing Business report and  initiated  a series of reviews  and  audits of the report and its methodology.

In addition, because the internal reports raised ethical matters, including the conduct of former Board officials as well as current and/or former Bank staff, management reported the allegations to the Bank’s appropriate internal accountability mechanisms.  

After reviewing all the information available to date on Doing Business, including the findings of past reviews, audits, and the report the Bank released today on behalf of the Board of Executive Directors, World Bank Group  management  has taken the decision to discontinue the Doing Business report.

“The World Bank Group remains firmly committed to advancing the role of the private sector in development and providing support to governments to design the regulatory environment that supports this. Going forward, we will be working on a new approach to assessing the business and investment climate.”

“We are deeply grateful to the efforts of the many staff members who have worked diligently to advance the business climate agenda, and we look forward to harnessing their energies and abilities in new ways,” the Bank said in a statement on Thursday September 16.

It stressed “Trust in the research of the World Bank Group is vital. World Bank Group research informs the actions of policymakers,  helps countries  make better-informed decisions, and  allows stakeholders to measure economic and social  improvements more accurately. Such research has also been a valuable tool for the private sector, civil society, academia,  journalists, and others, broadening understanding of global issues.”