WB considers Zoellick

WASHINGTON – The World Bank executive board met yesterday to consider the sole nomination for the bank’s presidency, Robert Zoellick, a former US diplomat and trade chief, a bank official told AFP.

The board will issue a statement following the meeting, said the official, who spoke on condition of anonymity. Zoellick, 53, a vice chairman at Wall Street investment bank Goldman Sachs, was interviewed Wednesday by the board.The former deputy secretary of state and ex US Trade Representative was nominated by US President George W.Bush in late May to succeed outgoing World Bank president Paul Wolfowitz after he was forced to announce his resignation in a favoritism scandal.Wolfowitz is due to step down on Saturday after two years in office.The president of the World Bank serves a renewable, five-year term.Under an unwritten agreement, the United States chooses the head of the World Bank and European countries select the leader of its sister institution, the International Monetary Fund.Nampa/AFPZoellick, 53, a vice chairman at Wall Street investment bank Goldman Sachs, was interviewed Wednesday by the board.The former deputy secretary of state and ex US Trade Representative was nominated by US President George W.Bush in late May to succeed outgoing World Bank president Paul Wolfowitz after he was forced to announce his resignation in a favoritism scandal.Wolfowitz is due to step down on Saturday after two years in office.The president of the World Bank serves a renewable, five-year term.Under an unwritten agreement, the United States chooses the head of the World Bank and European countries select the leader of its sister institution, the International Monetary Fund.Nampa/AFP