Bush To Name Zoellick To Be World Bank Chief
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
WASHINGTON — Robert Zoellick, the former U.S. trade representative and an executive at Goldman Sachs Group Inc., will be nominated by President Bush to replace Paul Wolfowitz as head of the World Bank, a senior administration official said.
Mr. Zoellick, 53, would serve a five-year term, subject to the approval of the bank’s board, which represents its 185 member countries. Mr. Wolfowitz resigned on May 17 after an international furor over his involvement in giving his companion a pay raise.
Mr. Zoellick, who guided America’s trade relations with China, will take over an agency bruised by conflicts over the bank’s role in Iraq and a campaign against corruption in developing nations. Among his first tasks will be to reinvigorate an effort to raise as much as $28 billion that World Bank officials say is needed to help the poorest countries in the coming three years.
