More than 100 civil society organisations and academics from around the world have signed a joint statement calling for an overhaul of the World Bank.

The statement follows the publication of two damning reports that revealed serious ethical improprieties, conflicts of interest in the Bank’s Advisory Services and data manipulation in the development of its flagship Doing Business Report.

Chiara Mariotti, Senior Policy and Advocacy Officer at the European Network on Debt and Development (Eurodad) said: “CSOs are calling recent revelations surrounding the Doing Business Report the ‘tip of the iceberg’. They revealed a deeply worrying culture within the Bank and have seriously affected its credibility as a global policy advisor. They also exposed the Bank’s weak internal and external accountability and raised questions about its ability to conduct independent research.

“As we enter the week of the Bank’s Annual Meetings, we need to see a recognition of the magnitude of this scandal. Most importantly, we need to hear how the Bank is going to carry out a root and branch reform which addresses its outdated quota system; ditches the ‘gentleman’s agreement’ dictating how its leaders are selected; and which explains how it will revise its ideological bias in favour of neoliberal policies. The Bank should also guarantee that we are not going to see a DBR 2.0 and focus instead on adopting a definition of an ‘enabling business environment‘ that aims at economic diversification and resilience and properly values people and the planet.”

To read the full statement and the list of signatories click here.

ENDS

Media contact: Julia Ravenscroft, Communications Manager, Eurodad: [email protected] / +44 7958 184 695.