The president of the World Financial institution unveiled a brand new simplified company “scorecard” Thursday to measure its progress, forward of a gathering of worldwide monetary leaders in Washington subsequent week.
The financial institution’s new “yardstick of accountability” has lowered the variety of indicators from round 150 to only 22, Ajay Banga instructed reporters, including that the simplified set of indicators ought to make it simpler to guage progress.
“It’s far more oriented on output,” he stated. “It’s not about decreasing our ambition. It’s about sharpening our focus.”
Forward of the World Financial institution and Worldwide Financial Fund’s semi-annual gathering of senior monetary policymakers in Washington subsequent week, Banga additionally took inventory of the reforms the event lender has made to change into “larger” and “higher” since he took workplace in June final yr.
He lauded the World Financial institution’s progress to lower the typical time it takes to get a brand new venture off the bottom from 19 months to 16 — midway towards its objective to cut back it to 12 months.
Banga additionally praised efforts to simplify the Washington-based lender’s operations and to spur its totally different components to collaborate extra successfully on tasks.
“Clearly, there’s extra work to do, however I’m inspired that we’re shifting in the fitting course,” he stated.
