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Do Business: Stop reporting that the World Bank Group does business

New Delhi: The World Bank Group has decided to stop issuing Doing Business reports on the country’s investment climate following allegations of fraud.
The decision was made after an investigation into data irregularities, allegedly due to pressure from senior banking officials to raise China’s rankings in 2017, came to light.
“After reviewing all the information available to date regarding’doing business’, including past reviews, audits, and findings from a report released today by the bank on behalf of the board of directors, the World Bank Group’s management. The team decided to cancel. The World Bank Group said in a statement Thursday.
The group said it remains firmly committed to supporting the government to promote and support the role of the private sector in development and to design a regulatory environment to support it.
“We will continue to work on new approaches to assessing the business and investment environment. We are deeply grateful to the many staff members who have worked diligently to advance the business environment agenda and look forward to their use. Energy and capacity in new ways. ”
Observing that confidence in the World Banking Group’s research is essential, the World Banking Group’s research informs policymakers’ actions and helps countries make more informed decisions. Allows interested parties to more accurately measure economic and social improvement.
He said such studies are also a valuable tool for the private sector, civil society, academia, journalists and others, and provide a better understanding of global issues.
After data irregularities on Doing Business 2018 and 2020 were reported internally in June 2020, World Bank management suspended the next Doing Business report with a series of reviews of the report and its methodology. He said he had started an audit.
He added that the internal report raised ethical issues, including the actions of former board officers and current and / or former bank employees, and management reported the allegations to the bank’s appropriate internal accountability mechanism.
According to the’Doing Business’2020 report, India rose 14th in the business ease ranking to 63rd. India has risen 79th in five years (2014-19).



Do Business: Stop reporting that the World Bank Group does business

Source link Do Business: Stop reporting that the World Bank Group does business

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