Finally, Robert Zoellick is all set to take on the chair of World Bank President after getting full-fledged backing from the bank’s governing body.
Zoellick, former deputy US secretary of state and trade representative, was choose unanimously 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.
The World Bank’s governing board said:
In coming to their decision, the executive directors considered that 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
Robert Zoellick’s succession will fade the humiliating era of Paul Wolfowitz, who was forced to resign over a promotion scandal involving his companion. Although Mr. Wolfowitz denied all allegations, but his resignation came after weeks of pressure and an internal bank investigation that concluded that he had sought to conceal the pay deal from other bank officials.
The pavement of Zoellick will not be easy as it seems, first, he has to improve the image of the World Bank and also needs to meet the growing uncertainty over the increasing gap between the rich and poor nations. Zoellick has already announced to concentrate on poverty in the African continent and his two year term will focus on its development.
To make world business more competitive, institutions like World Bank have to come forth and need to take preventive measure to support budding economies. International development agencies appealed to Mr Zoellick to concentrate on tackling poverty and address the effects of climate change on the world’s poor.
The executive director of Oxfam International Jeremy Hobbs, said:
Zoellick must begin a series of reforms in his first 100 days to create a new deal between the bank and the world’s poor. We can’t continue with business as usual
As World Bank chief, Robert Zoellick has to do lots of homework. He’ll need to regain trust, rebuild credibility and mend frayed relations inside the institution as well as with its member countries worldwide. He’ll also need to persuade countries to contribute nearly $30 billion over the next few years to fund a centerpiece bank program that provides interest-free loans to the world’s poorest countries.
The Bank’s governing board is confident that Zoellick will be able to address the challenges facing the bank, but his real test will count when he will confront the growing challenges from countries like Iraq, Iran and N Korea.
Via: Washingtonpost
