The World Bank on Monday unanimously approved Robert Zoellick as its president after a controversial two-year term by Paul Wolfowitz, who agreed to resign over a promotion scandal involving his companion.
Zoellick, former deputy US secretary of state and trade representative, was the only nominee for the job and will overlap for a week with Wolfowitz before he officially takes the reins of the poverty-fighting institution on July 1.
"Mr Zoellick brings to the bank presidency 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 World Bank board said in a statement.
Zoellick has said he will focus on the poorest countries in Africa, but also wants to define a clearer role for the World Bank in emerging nations like China, India and Brazil, which are still dogged by high poverty levels despite their rapid economic development.
His five-year tenure begins in the middle of the bank's critical year-long fund-raising for its lending programs to its poorest borrowers, which will set the course of the bank for the next three years starting mid-2008.
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