World Bank's board approves Zoellick as next president

Conferences

Robert B. Zoellick, US President Bush's nominee for president of the World Bank, won the unanimous approval of the World Bank's board on Monday to succeed Paul Wolfowitz, who was forced to resign under a favoritism scandal. 

The board said in a brief statement that Zoellick brings “strong leadership and managerial qualities as well as a proven track record in international affairs and the drive required to enhance the credibility and effectiveness of the bank.” The board “are confident that he will address the challenges facing the Bank, including a successful 15th replenishment of IDA, development of a long-term strategy for the Bank Group and issues related to corporate governance,” said the statement.
Zoellick, met with the bank's 24-member board last Wednesday and outlined his views of the bank's opportunities and difficulties and told members that he would strive to stabilize the bank. Zoellick's predecessor, Paul D. Wolfowitz, resigned in May amid accusations of favoritism to his companion, a bank employee. His resignation will become effective on June 30. (people.com.cn)

ADVERTISEMENT

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga Analysis

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.