WASHINGTON :World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied"undue pressure" on staff to boost China's ranking in the bank's"Doing Business 2018" report, according to an independent investigation released Thursday.
The World Bank Group canceled the entire"Doing Business" https://www.worldbank.org/en/news/statement/2021/09/16/statement-on-release-of-investigation-into-data-irregularities-in-doing-business-2018-and-2020 report on business climates, saying internal audits and the WilmerHale investigation had raised"ethical matters, including the conduct of former Board officials, as well as current and/or former Bank staff.
It said Georgieva, and a key adviser, Simeon Djankov, had pressured staff to"make specific changes to China's data points" and boost its ranking at a time when the bank was seeking China's support for a big capital increase. The U.S. Treasury is analyzing"serious findings" in the WilmerHale report, Treasury spokeswoman Alexandra LaManna told Reuters."Our primary responsibility is to uphold the integrity of international financial institutions.”
"Going forward, we will be working on a new approach to assessing the business and investment climate," the World Bank said. The World Bank in 2018 announced https://www.reuters.com/article/us-imf-g20-wbank/world-bank-shareholders-back-13-billion-capital-increase-idUSKBN1HS0QS a US$13 billion-paid in capital increase that boosted China's shareholding stake to 6.01per cent from 4.68per cent.
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