The World Bank Group has begun work to assess the business and investment climate in up to 180 economies under its flagship Business Ready project, APA reports citing World Bank.
The Washington-based institution disclosed this in a statement yesterday.
The Business Ready project is a key instrument of its new strategy to facilitate private investment, generate employment, and improve productivity to help countries accelerate development in inclusive and sustainable ways.
It disclosed that Business Ready improves upon and replaces the World Bank Group’s earlier Doing Business project.
“It reflects a more balanced and transparent approach toward evaluating a country’s business and investment climate—one that has been shaped by recommendations from experts from within and outside the World Bank Group, including governments, the private sector, and civil society organisations.
“The first annual Business Ready report, covering 54 economies, will be published in the Spring of 2024.
Today, the World Bank Group published two key documents: the Business Ready Manual and Guide, specifying the detailed protocols and safeguards it has put in place to ensure the integrity of the assessments; and the Business Ready Methodology Handbook, detailing the project’s indicators and scoring methodology.
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