Zoellick wins World Bank board approval

Official U.S. presidential nominee for the World Bank Robert Zoellick won the support of the bank’s 24-member board after a meeting on Wednesday, wherein he detailed his views of the bank’s opportunities and difficulties and gave assurances that he would work to restore stability in the organization. “The board found Zoellick to be somebody who understands the issues and the needs of the bank,” said a senior bank official. “It was a very positive meeting from the board’s point of view.” Zoellick is due to succeed Paul Wolfowitz, who stepped down from his post in May amid a pay-promotion scandal involving his companion. The board is expected to make its formal announcement on Monday.

Source: Zoellick obtains board support to lead World Bank (Xinhua)

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