World Bank set to launch more robust, transparent business climate rankings – Reuters

World Bank set to launch more robust, transparent business climate rankings – Reuters

WASHINGTON, May 1 (Reuters) - 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 said a pilot edition of the new replacement annual series called "Business Ready" would be published in the spring of 2024, covering an initial group of 54 economies in Asia, Latin America, Europe, the Middle East and Sub-Saharan Africa.

Subsequent reports adding more countries will follow in the next two years as the bank refines its methodology and ramps up the new flagship project, which aims to help countries attract investment and boost jobs and productivity to accelerate development.