The World Bank has launched public consultations for its “Business Enabling Environment Project,” which will take over where “Doing Business” left off after the once-flagship publication that ranked countries’ private sectors was canned following scandal.
Sign up for Devex Invested
The must-read weekly newsletter that keeps you up to date with news about business, finance, and the SDGs.
According to a “pre-concept note” posted on the bank’s website, the aim is to move quickly. “The target timeline for releasing the first report is late fall 2023,” the note said. The bank is keeping public comments open until March 8.
Economist Justin Sandefur said the project seems designed to fix some old concerns but still faces “tension” around issues such as building an index of countries.
Out of business: The old “Doing Business” report, which had been around for almost two decades, was shuttered last year following the revelation of “data irregularities.”
The fallout from the scandal nearly cost International Monetary Fund Managing Director Kristalina Georgieva her job, amid allegations she applied “pressure” to have China ranked more favorably. Ultimately, she survived.
Reopening: It was always clear that something would rise from the ashes of “Doing Business.” Bank insiders and many external critics agreed that the underlying data was valuable, even if the ranking system was prone to manipulation.
The bank said the new report will serve the institution’s “twin goals of eliminating poverty and boosting shared prosperity.”
High standards: At the top of the pre-concept note, the bank pledged to abide by the “highest possible standards,” including “robust data safeguards.” The new report is further described as taking an approach that will be “in contrast” to “Doing Business,” with a more “balanced” approach.
One example is a switch away from a focus on regulatory red tape to “a more nuanced and potentially positive perspective on the role of governments” in providing services. Also, there will be more reliance on hard data rather than surveys.
How exactly the measurable indicators will be presented — a key issue, given the problems with past rankings — “is yet to be decided.”
About the author
Shabtai Gold
Shabtai Gold is a Senior Reporter based in Washington. He covers multilateral development banks, with a focus on the World Bank, along with trends in development finance. Prior to Devex, he worked for the German Press Agency, dpa, for more than a decade, with stints in Africa, Europe, and the Middle East, before relocating to Washington to cover politics and business.
