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Ajay Banga, the president of the World Bank, has introduced a simplified corporate scorecard aimed at improving the organization’s efficiency and transparency. This new system reduces the number of performance indicators from roughly 150 to just 22, which Banga believes will provide a clearer and more focused way to measure progress.
“It’s much more oriented on output,” Banga stated, clarifying that the reduced indicators do not represent diminished goals but rather a sharper focus on achieving key objectives.
Banga unveiled the new scorecard ahead of next week’s World Bank and International Monetary Fund semi-annual meetings in Washington, where global financial leaders will gather. He also highlighted recent reforms under his leadership, noting that the World Bank has already made strides in cutting the average time it takes to launch new projects—from 19 months to 16, with the ultimate goal being 12 months.
Additionally, Banga praised ongoing efforts to simplify the Bank’s operations and foster better collaboration across its various divisions. While acknowledging that more work lies ahead, he expressed optimism about the direction the organization is heading.
