Jim yong kim, American physician

An independent investigation commissioned by the World Bank has found that its top officials placed "undue pressure" on staffers to alter data to inflate the rankings for China and Saudi Arabia in 2018 and 2020 editions of the report, according to the US media.WilmerHale -- the law firm commissioned by the World Bank to conduct probe -- found that then-CEO Kristalina Georgieva pressured the Doing Business team in 2017 to "change the report's methodology" or "make specific changes" to data points to boost China's ranking in the 2018 edition, CNN reported on Friday.Law firm WilmerHale was commissioned by the World Bank to conduct the probe.According to WilmerHale's 16-page investigation, Chinese government officials repeatedly expressed concerns to Georgieva and Jim Yong Kim, then-World Bank president, over the country's ranking.The probe revealed that Georgieva was in the middle of negotiations over a capital increase campaign, in which China "was expected to play a key role".The investigation stated that Georgieva was "directly involved" in improving China's ranking.During a meeting, Georgieva had "chastised the Bank's then-Country Director for mismanaging the Bank's relationship with China and failing to appreciate the importance of the Doing Business report to the country," according to CNN.Following allegations of irregularities, the World Bank on Thursday had decided to discontinue publication of its Doing Business report."After reviewing all the information available to date on Doing Business, including the findings of past reviews, audits, and the report the Bank released today (Thursday) on behalf of the Board of Executive Directors, World Bank Group management has taken the decision to discontinue the Doing Business report," World Bank said in a statement posted on the website.The Doing Business report assesses regulatory environments, ease of business startups, infrastructure and other business climate measures.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Jim Yong KimFOLLOW

Jim yong kim, Latest News

International :China using 'immoral', 'unethical' tactics to influence World Bank's Doing Business ranking

China has been using "immoral" and "unethical" tactics to influence the World Bank's Doing Business ranking in its bid to become the unambiguous hegemon by 2049. ...

Business :China manipulated EODB rankings, no irregularities found in Indian data

An independent scrutiny by leading US law firm WilmerHale shows China's massive data manipulation to hide slippage in the World Bank Group's Ease of Doing Business (EODB) rankings. ...

International :World Bank top officials pushed staffers to boost China ranking: Report

An independent investigation commissioned by the World Bank has found that its top officials placed "undue pressure" on staffers to alter data to inflate the rankings for China and Saudi Arabia in 2018 and 2020 editions of the report, according to th ...