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Written by Andrea Shalal
WASHINGTON (Reuters) – The World Bank Group on Tuesday unveiled a framework for measuring the performance of its development work on 22 indicators, with senior officials calling it a significant step forward in strengthening the Bank’s transparency and accountability. .
Anna Bjerde, Managing Director of Operations at the World Bank, said the scorecard will enable shareholders and those they serve to better see, measure and track the impact of bank loans and grants. .
“Vision and mission are really great, but if you can’t put it into action and measure it, it’s very ambitious, and we also want it to be actionable. ” Bjerde told Reuters.
The United States and other major shareholders have called on the World Bank to improve the way it helps countries address issues such as climate change and pandemic preparedness.
The company has already added the phrase “Livable Planet” to its mission statement and reduced the number of projects to focus on more programmatic and transformational projects.
The scorecard includes 22 global indicators on poverty, prosperity and a livable planet, down from 150 in the previous indicator. It also includes themes such as gender equality, youth inclusion, and how people live in fragile and conflict-affected areas.
Bjerde said that by taking a more “human-centered” approach, development outcomes can be seen more closely.
For the first time, the activities of all World Bank institutions, including the International Finance Corporation and the International Bank for Reconstruction and Development, will be tracked through the same set of indicators.
“This is a real game changer, providing a new guidepost for our teams to rally around and improve how well we are tackling our toughest challenges, including poverty, climate change, vulnerability and food insecurity. Full visibility,” Bjerde said.
The bank sees the scorecard as part of its efforts to focus on outcomes rather than inputs, such as measuring how many people actually use financial services rather than how many people have access to them.
He said the bank was still working out the detailed methodology for calculating scores for each of the 22 indicators, with half expected to be announced in June and the rest in October.
The first batch will include data on the number of people with access to electricity and social safety net programs around the world.
This data includes transparent data disaggregated by gender, region, age, and whether people are in fragile or conflict-affected countries.
Digging down this way, he said, will allow banks, shareholders and customers to “understand not only where we are but also where we need to strengthen.”
(Reporting by Andrea Shalal; Editing by Josie Kao)
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