Robert Zoellick to be named next World Bank President

Washington, June 25 (UNI) Robert Zoellick, former trade chief in the Bush administration, is most likely to be approved by the World Bank Board of directors to be its next president.

The World Bank's 24-member board will be meeting later today to take up Zoellick's nomination, which was put forward by President Bush. No other countries nominated candidates.

Zoellick will succeed Paul Wolfowitz, who will step down on June 30, ending a controversial two-year term.

Wolfowitz 's role was steeped in controversy right form the start because of his role in the Iraq war when he was deputy defense secretary.

However, his role in providing high benefits to his girl friend, Shaha Riza, who is a bank employee, that forced him to step down. The World Bank rose in protest against Wolfowitz's role in the pay raise for Riza, calling for his resignation.

To undo the damage done by the Wolfowitz episode, Zoellick undertook a global tour of Africa, Europe and Latin America, saying he wanted to listen and learn more about the multi-lateral institutions and its importance in fighting poverty.

Zoellick, 53, brings to the World Bank years of experience as he has worked under three Republican presidents, starting with Ronald Reagan.

Zoellick left the Bush administration last year to take up a job as an executive at the Wall Street giant Goldman Sachs.

Meanwhile the World Bank said in its website that the nomination of Robert Zoellick was presented by the Executive Director representing the United States on May 30, 2007.

The Executive Directors decided to invite the nominee to an informal meeting on June 20, to discuss key issues of interest to the World Bank Group, including the challenges of development, the World Bank Group's governance and leadership as well as future strategic directions.

Following this meeting, and follow-up interactions and consultations with their respective authorities, the Executive Directors intend to meet again today to decide on the Presidency of the Bank. They expect that all the required processes will be completed by June 30, 2007.

UNI