World Bank to discuss replacement of Doing Business reports in October

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WASHINGTON, Sept 28 (Reuters) – The World Bank’s board will next month discuss plans to replace the bank’s flagship “Doing Business” ranking that was canceled in September 2021 after an external report revealed irregularities in the data, said World Bank President David Malpass.

Malpass told an event hosted by Stanford University on Wednesday that there remained problems defining how to assess a country’s business climate, but the bank and its various branches, including the International Finance Corporation, all endeavored to continue to encourage private sector activity.

“The World Bank is very involved in trying to encourage private sector development in countries,” he said.

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The World Bank said in February it was working on a new approach, tentatively dubbed the Business Enabling Environment project, which will help countries improve their business environment and attract more investment.

The bank abolished the annual “Doing Business” filing a year ago, saying internal audits and an external investigation had raised “ethical issues, including the conduct of former Board officials, as well as current and/or former staff of the Bank”.

The bank’s new chief economist, Indermit Gill, told reporters earlier this month that the bank was listening to its constituents on how to replace the old filing system and had refused to predict when the new product would launch. .

“We will do it very deliberately, and we will do it right,” he said.

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Reporting by Andrea Shalal; Editing by Christian Schmollinger and Stephen Coates

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