In a significant move to sharpen its focus on critical global development challenges, the World Bank has reduced the number of indicators on its corporate scorecard from 150 to 22. The streamlined approach, announced by World Bank President Ajay Banga, aims to emphasize output and enhance accountability in the institution’s mission to end extreme poverty and promote shared prosperity.
According to Banga, the new set of indicators is designed to be more output-oriented, allowing the bank to track progress on key global challenges such as poverty, education, health, and climate sustainability. “It’s not about reducing our ambition,” he said. “It’s about sharpening our focus.” The new scorecard will provide a yardstick to measure the bank’s delivery on its mission, reinforcing its focus on accountability and impact.
At the heart of the scorecard are results indicators that track the World Bank Group’s (WBG) progress on critical global challenges. The 22 indicators include the number of beneficiaries of social safety net programs, students supported with better education, people receiving quality health services, and countries benefiting from strengthened capacity to prevent and respond to health emergencies. Other indicators focus on climate sustainability, including net greenhouse gas emissions, beneficiaries with enhanced resilience to climate risks, and hectares of terrestrial and aquatic areas under enhanced conservation.
The new scorecard also includes indicators on economic opportunities, such as people using financial services, new or better jobs, and total private capital mobilized. A key focus area is on promoting shared prosperity, with indicators on people benefiting from actions to advance gender equality and people with strengthened food and nutrition security.
By simplifying its scorecard, the World Bank aims to be more transparent and accountable in its efforts to address global development challenges. As stated on the bank’s website, the new scorecard will provide a yardstick to measure how the bank delivers on its mission to end extreme poverty and boost shared prosperity on a livable planet. With this streamlined approach, the World Bank is poised to make a greater impact in achieving its goals and improving the lives of people around the world.