Zoellick picked for World Bank


Summary

Mr Bush plans to announce his selection today and expects the bank's board to accept it, a Bush Administration official said.

VIDEO: Bush nominates Zoellick

President Bush had said he wanted an American to succeed the embattled Mr Wolfowitz, despite increasing calls from World Bank member countries and some US lawmakers to throw the position open globally.

The controversy over Mr Wolfowitz' authorisation of a hefty raise for his partner, Middle East expert Shaha Riza, deepened rifts among bank staff already discontented over his anti-corruption agenda and prompted sharp criticism from shareholder countries.

Treasury Secretary Henry Paulson received "positive reactions" from other countries to the choice of Mr Zoellick, the administration official said.

As Mr Bush's first trade representative, Mr Zoellick, 53, helped launch the Doha round of world trade talks.

He later served as deputy secretary of state and became the administration's point person on China policy and Darfur.

Mr Zoellick left the government last year to join investment bank Goldman Sachs.

Mr Zoellick's experience in finance and diplomacy "make him uniquely prepared to take on this challenge," the administration official said.

"He has the trust and respect of many officials around the world and believes deeply in the World Bank's mission of tackling poverty," the official added.

Mr Paulson had spearheaded the effort to find Mr Wolfowitz's successor. Asked whether the World Bank board would approve of Mr Zoellick, the official said, "We have every confidence in that."


Mr Bush plans to announce his selection today and expects the bank's board to accept it, a Bush Administration official said.

VIDEO: Bush nominates Zoellick

President Bush had said he wanted an American to succeed the embattled Mr Wolfowitz, despite increasing calls from World Bank member countries and some US lawmakers to throw the position open globally.

The controversy over Mr Wolfowitz' authorisation of a hefty raise for his partner, Middle East expert Shaha Riza, deepened rifts among bank staff already discontented over his anti-corruption agenda and prompted sharp criticism from shareholder countries.

Treasury Secretary Henry Paulson received "positive reactions" from other countries to the choice of Mr Zoellick, the administration official said.

As Mr Bush's first trade representative, Mr Zoellick, 53, helped launch the Doha round of world trade talks.

He later served as deputy secretary of state and became the administration's point person on China policy and Darfur.

Mr Zoellick left the government last year to join investment bank Goldman Sachs.

Mr Zoellick's experience in finance and diplomacy "make him uniquely prepared to take on this challenge," the administration official said.

"He has the trust and respect of many officials around the world and believes deeply in the World Bank's mission of tackling poverty," the official added.

Mr Paulson had spearheaded the effort to find Mr Wolfowitz's successor. Asked whether the World Bank board would approve of Mr Zoellick, the official said, "We have every confidence in that."