The World Bank to create a new rating on the business environment

The World Bank is working on a new system to assess the global business environment after suspending its Doing Business rating. The news was published by the international organization at the beginning of this month.

The organization’s website states that the working title of the new index will be the Business Enabling Environment (BEE) rating. Once the index is finally formed, its name may change.

Along with the information about the new index, the bank also publishes a working version of the concept and suggests interested parties share their comments and opinions by March 8 this year.

Our goal is to develop a tough, high-quality product in a constructive, transparent, and accountable way.

“Please note that we will not be able to provide written responses to specific opinions. However, we will share the revised and final version of the concept to all stakeholders who have commented,” the website states.

The World Bank stopped doing business ratings last year after breaches in its 2018 and 2020 reports on ethical issues related to former bank employees and board members.

Currently, the information on the website states that they are looking for feedback and contributions on the pre-concept note of the BEE project. They invite all to review the proposed approach and consider the value it could bring to private sector development, economic reforms, and research in general. They can also provide your comments and feedback through the dedicated consultation page between February 8 and March 8, 2022.