Bush names Zoellick as new World Bank chief

US President George W. Bush yesterday nominated Robert Zoellick, the former US deputy secretary of state, to be the new World Bank president, describing him as a "committed internationalist".

"He has earned the trust and support of leaders from every region of the world," Mr Bush said at the White House with Mr Zoellick by his side. "He is deeply devoted to the mission of the World Bank."

If confirmed by the World Bank board of member countries, as expected, Mr Zoellick, 53, will succeed Paul Wolfowitz, who agreed to step down on June 30 after a bank panel found he violated rules in authorising a hefty pay raise for his companion, Middle East expert Shaha Riza.

Mr Zoellick, who left his job as deputy secretary of state last year to join investment bank Goldman Sachs & Co, reached out to try to heal divides that emerged among staff and member countries in a bruising battle that led to Mr Wolfowitz's resignation.

"The World Bank has passed through a difficult time for all involved. There are frustrations, anxieties and tensions about the past that could inhibit the future. This is understandable but not without remedy," Mr Zoellick said.

"We need to put yesterday's discourse behind us and focus on the future together."

Mr Zoellick, also a former US trade representative, referred to the challenges for the World Bank, including fighting poverty in Africa and finding ways to help emerging economic powers like China and India, which despite high growth levels are still home to millions of poor.

"The World Bank has a vital mission to overcome poverty and despair through sustainable growth and opportunity," he said.

Mr Zoellick has a reputation as being extremely demanding but people who know him well say he is a consensus builder, which will be important to heal the rifts within the poverty-fighting institution.

Senate Finance Committee Chairman Max Baucus, a Democrat from Montana, hailed Mr Zoellick's nomination.

"It's hard to imagine a more intelligent, hard-working and capable person to assume the bank's leadership at this difficult point in its history," he said. "Bob has the skills and the integrity to put the bank back on the right path."

Germany's Development Minister Heidemarie Wieczorek-Zeul, who had strongly urged Mr Wolfowitz to step down, welcomed the nomination of Mr Zoellick, saying he was a "good candidate, who brings a large measure of international experience with him".

"It's important that the World Bank quickly gets a new president and wins back its ability to act," she added.

In Africa, many expressed disappointment at Mr Zoellick being named, saying the job should have gone to a developing country. But there was also hope that Mr Zoellick's experience on African trade issues could bring benefits.