WASHINGTON :The World Bank on Monday unveiled new methodology and improved safeguards for assessing the business climate in up to 180 countries after embarrassing revelations of data irregularities and favoritism toward China forced it to cancel its flagship rankings two years ago.
More countries will be added in the next two years as the bank refines its methodology and ramps up the new project, which aims to help countries attract investment and boost jobs and productivity to accelerate development. "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.
But World Bank officials were still debating whether to revive the business climate rankings that were at the heart of the"Doing Business" controversy or produce an overall index, Loayza said, with a decision expected prior to the first report.
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