The World Bank cannot abandon the people that it was designed to serve in the developing world, and it should not thumb its nose at investors who are enthusiastic potential partners. The Obama administration must weigh in and encourage World Bank President Jim Yong Kim to resist outside pressure and to preserve the integrity of the index. Congress should track developments closely and consider hearings in the Senate Foreign Relations or House Foreign Affairs committees to underscore the urgency of saving the Doing Business Index. Killing, crippling or outsourcing the index would be a direct rebuke to the bipartisan support that the World Bank has enjoyed on Capitol Hill for decades.
Congressional leaders must take a stand now to help local private sectors across the world assume their natural role as sustainable engines of economic growth that break the cycle of aid dependency.
Rob Mosbacher was CEO of the Overseas Private Investment Corp. Mark Green, a former congressman and U.S. ambassador, is president and CEO of the Initiative for Global Development. They serve as co-chairmen for the Consensus for Development Reform.
Sen. Jeff Flake, R-Ariz., takes a selfie with his cut-out head during the Hoops for Youth 16th annual charity basketball game held at George Washington University's Smith Center, September 8, 2014. The members of Congress team beat the lobbyist team 46-40. Buy photo here.