World Bank to launch ‘Business climate sturdy’ which will replace the discontinued Ease of Doing Business report

Tags: Economy/Finance International News

The World Bank has said that it will launch a new system for assessing the business and investment climate in economies worldwide following the discontinuation of the Ease of Doing Business report.  The report titled Business Enabling Environment” (BEE) is expected to be launched in April 2024.

The Ease of Doing Business report which was first published by the World Bank in 2003 titled “Doing Business” report. The report ranked the country on their business friendly environment by about 12 indicators.

The report which was annually published by the World Bank was discontinued in September 2021 after a data rigging scandal came to light.

An internal audit of the World Bank revealed data irregularities in reports on China, Saudi Arabia, the United Arab Emirates and Azerbaijan in the 2018 and 2020 editions. 

Subsequently, the Bank decided to come out with a new system that would be far more robust and credible than the earlier one. Hence it will come out with “Business Enabling Environment’.

India has performed very well on the Ease of Doing Business Index. It improved by 79 ranks to record 63rd positions in 2019 , according to the last Bank’s Doing Business report 2020. 

 Other Important World Bank reports 

• World Development Report 
• Global Economic Prospect 

President of World Bank: David Malpass