Togo asserts itself as part of a group of 54 economies that will be scrutinized in the framework of the first-ever “Business Ready” (B-READY) annual report by the World Bank.
Focused on improving the business climate, the innovative “Business Ready” initiative positions itself as the successor to the Doing Business report, thus taking a central role in the World Bank Group’s strategy to encourage investment and boost economic development.
Designed in response to the limitations of the previous report, “Business Ready” aims to strike a more solid balance between facilitating business activities and broader societal impacts. This overhaul signifies a strategic evolution in the World Bank’s approach to economic assessment.
Scheduled for spring 2024, the first edition of this groundbreaking report will seek to measure economic impacts while taking into account social and environmental aspects. By emphasizing the necessity of considering the overall consequences of a growing economy, the World Bank commits to creating a more balanced and relevant assessment tool.
“The B-READY project will mainly rely on data provided by private sector experts and involve direct surveys of active and formally registered businesses. For the teams behind this new report, the project goes beyond the ‘Doing Business’ initiative in that it will collect data from a representative sample,” the World Bank emphasized in its statement.
This shift in approach reflects a willingness to adapt to contemporary economic challenges and provide more nuanced and accurate assessments of business reality. As a participant in this ambitious evaluation, Togo positions itself at the core of an effort aimed at strengthening private investment, creating employment, and boosting productivity.
