The World Bank Group is developing a new corporate scorecard that will track results across 22 indicators, a fraction of the previous 150, to provide a streamlined, clear picture of progress on all aspects of the World Bank Group’s mission.
According to the statement, the mission includes improving access to healthcare, making food systems sustainable to boosting private investment.
The new scorecard will serve as an important management tool, with detailed results showing exactly how many people have benefited from our operations and the results will inform future investment and project decisions.
For the first time, the work of all World Bank Group financing institutions will be tracked through the same set of indicators. The new scorecard will track the Bank’s overarching vision of ending poverty on a liveable planet.
The indicators have been carefully selected through wide consultation with shareholders and partners. The goal is to measure key outcomes, manage with evidence, and communicate results.
The scorecard will provide a yardstick for us on how we deliver on our new mission and vision and redouble our focus on accountability and impact.
Anna Bjerde, World Bank Managing Director of Operations, said that, “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.”
As per the statement, “This is an important milestone in the World Bank Group’s efforts to focus on outcomes, rather than inputs. For example, instead of showing how many people have access to financial services, we will focus on the number of people that use them. This will drive action towards results and allow us to course-correct throughout.”
All the data and underlying methodologies will be available in a user-friendly online platform that will make it easier to harmonize results measurement with other multilateral development banks.
“The World Bank Group will report the first results in the coming months and will have all data ready to share at the 2024 IMF-World Bank Group Annual Meetings. Annual updates will be released from Fiscal Year 2024 (FY24) until Fiscal Year 2030 (FY30),” as per the statement.
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