Bush chooses new World Bank chief
Wednesday, 30 May 2007 20:13
George Bush chose Robert Zoellick as the next World Bank chief
US president George Bush has chosen a former American trade representative and deputy secretary of state to become the next head of the World Bank.
Robert Zoellick, now an executive at investment bank Goldman Sachs, has been selected to replace the bank's outgoing president Paul Wolfowitz. The US administration has traditionally selected the head of the World Bank, which was founded 60 years ago and is an international vehicle to help poorer countries.
Mr Bush, saying Mr Zoellick would "bring a wealth of experience and energy to the task", officially nominated the former chief aide to US secretary of state Condoleezza Rice today.
"It'd probably be easier to list all the jobs Bob hasn't had. This man is eminently qualified," Mr Bush commented.
He emphasised that Mr Zoellick "builds constituent support and focuses on achieving goals".
In a statement yesterday the World Bank's board stressed it was essential for the next president to have, among other qualities, "a proven track record of leadership" and "a firm commitment to development".
Mr Zoellick has helped set up the Doha trade talks, brought China and Taiwan into the World Trade Organisation, increased the number of US trade agreements and, more recently, has been vice chairman international of investment bank Goldman Sachs.
Speaking at his nomination, Mr Zoellick said the World Bank was "just as important today" as it was when it was established after the second world war.
He described it as a "vital mission to overcome poverty and despair" and pledged to do his utmost to help achieve the millennium development goals set in 2001.
World Bank directors are expected to approve the anticipated nomination of Mr Zoellick, with Mr Zoellick set to take over control of the organisation on June 30th.
Current president Mr Wolfowitz is standing down from the post after being forced to resign from his job over an ethics scandal.
He said earlier this week that mounting internal criticism over the way he secured a lucrative job for his long-term partner and bank employee Shaha Riza had prevented him from being able to carry out his duties.