WASHINGTON : The World Bank will announce on Monday a new methodology for assessing the business climate in up to 180 countries after embarrassing revelations of data irregularities and favoritism toward China forced it to cancel the"Doing Business" rankings two years ago.
The bank scrapped Doing Business in September 2021, citing internal audits and an independent probe that found senior World Bank leaders had pressured staff to alter data to favor China, and cited data irregularities that also boosted rankings of other countries, including Saudi Arabia, the United Arab Emirates and Azerbaijan.
"Business Ready" was shaped by recommendations from World Bank experts, governments, the private sector, and civil society groups, and includes for the first time worker rights, as defined by the International Labor Organization, while acknowledging that regulation can also have positive aspects. The bank will also make available the tools needed by outsiders to replicate the results of the data assessments.