The World Bank Group has developed a new corporate scoreboard in tracking development results across 22 indicators, to provide a clear picture of the progress across all aspects of the World Bank Group’s mission.
This underlines significant efforts in promoting accountability and transparency.
This was disclosed in a press release on its website.
The same set of indicators will be used for the first time to track work by all World Bank Group financial institutions.
The Bank’s overall vision of ending poverty on a habitable planet will be addressed by the new scorecard.
The World Bank Managing Director of Operations, Anna Bjerde said “The new scorecard is a significant step forward in how we will measure results and be accountable for the outcomes.
“It’s a real game changer, providing a new guidepost that our teams can rally around, and provides full visibility on how well we are tackling the most difficult challenges like poverty, climate change, fragility, and food insecurity.”
The World Bank has been under pressure from the United States and its major shareholders to improve its effort on how it helps countries deal with issues like climate change or pandemic preparedness.
This is an important milestone in the World Bank Group’s efforts to focus on outcomes, rather than inputs, according to the report.
Through a wide consultation of shareholders and partners, the indicators have been carefully outlined. The goal is to measure key outcomes, manage with evidence, and communicate results.
The World Bank Group said it would report the first results in the coming months, and all data would be ready for sharing at the IMF World Bank Group Annual Meetings in 2024.
According to the World Bank Group, 22 New Indicators World Bank Group :
1. Millions of beneficiaries of social safety net programs
2. Millions of students supported with better education
3. Millions of people receiving quality health, nutrition, and population services
4. Millions of people benefitting from strengthened capacity to prevent, detect, and respond to health emergencies
5. Countries at high risk or in debt distress that implemented reforms toward debt sustainability
6. Countries with tax revenues to GDP ratio at or below 15% (including social security contributions) that have increased collections, considering equity
7. Net GHG emissions per year
8. Millions of people with enhanced resilience to climate risks
9. Millions of hectares of terrestrial and aquatic areas under enhanced conservation and management
10. Millions of people provided with water, sanitation, and hygiene, of which (%) is safely managed
11. Millions of people with strengthened food and nutrition security
12. Millions of people that benefit from improved access to sustainable transport infrastructure and services
13. Millions of people provided with access to electricity
14. GW of renewable energy capacity enabled
15. Millions of people using broadband internet
16. Millions of people using digitally enabled services
17. Millions of people benefitting from greater gender equality, of which (%) from actions that expand and enable economic opportunities
18. Millions of people and businesses using financial services, of which (%) are women
19. Millions of new or better jobs
– of which (%) for women
– of which (%) for youth
20. Millions of displaced people and people in host communities provided with services and livelihoods
21. $ billions in total private capital enabled
