‘WB should focus on Africa’

PARIS – French President Nicolas Sarkozy called on the World Bank yesterday to focus on Africa ahead of a meeting with the United States’ candidate to head the poverty-fighting agency.

Robert Zoellick, a vice chairman at Wall Street investment bank Goldman Sachs and a former US trade representative, was tapped by US President George W Bush to succeed outgoing World Bank president Paul Wolfowitz, who is to step down on June 30. France contributes seven per cent of the World Bank’s resources, giving US$1,33 billion (N$9,64 billion) to the bank over three years, the French leader’s office said in a statement yesterday.”The president will insist that this money goes as a priority to Africa,” his spokesman David Martinon said in the statement.Sarkozy and Zoellick were to meet later yesterday.The two were also expected to discuss the need to restore a “serene working environment” with the World Bank “so that it can get back all its energy and efficiency in the fight against global poverty,” the statement said.Wolfowitz is stepping down after a special bank panel found he broke bank rules when he arranged a hefty compensation package in 2005 for his girlfriend, a World Bank employee.Zoellick still must be approved by the World Bank’s 24-member board.Zoellick comes to Europe after a visit to Africa with stops in South Africa, Ghana and Ethiopia.He is later to visit Latin America.Some observers have described the world tour as a first step toward mending relationships strained under Wolfowitz.Nampa-APFrance contributes seven per cent of the World Bank’s resources, giving US$1,33 billion (N$9,64 billion) to the bank over three years, the French leader’s office said in a statement yesterday.”The president will insist that this money goes as a priority to Africa,” his spokesman David Martinon said in the statement.Sarkozy and Zoellick were to meet later yesterday.The two were also expected to discuss the need to restore a “serene working environment” with the World Bank “so that it can get back all its energy and efficiency in the fight against global poverty,” the statement said.Wolfowitz is stepping down after a special bank panel found he broke bank rules when he arranged a hefty compensation package in 2005 for his girlfriend, a World Bank employee.Zoellick still must be approved by the World Bank’s 24-member board.Zoellick comes to Europe after a visit to Africa with stops in South Africa, Ghana and Ethiopia.He is later to visit Latin America.Some observers have described the world tour as a first step toward mending relationships strained under Wolfowitz.Nampa-AP