News

    President Bush Nominates Robert Zoellick to Head World Bank

    President Bush says he wants former U.S. trade representative Robert Zoellick to head the World Bank. VOA White House Correspondent Scott Stearns reports, Zoellick would replace Paul Wolfowitz, who steps down next month following a scandal over a pay raise for his girlfriend.

    President Bush says Ambassador Zoellick has all the right qualities to head the World Bank.

    "He is a committed internationalist. He has earned the trust and support of leaders from every region of the world," said Mr. Bush. "He is deeply devoted to the mission of the World Bank. He wants to help struggling nations defeat poverty, to grow their economies, and offer their people the hope of a better life."

    The 53-year-old lawyer is currently a top executive at the New York investment firm Goldman Sachs. As deputy secretary of state in 2005 and 2006, Zoellick focused on ending violence in Sudan's troubled Darfur region.

    Speaking alongside President Bush after Wednesday's announcement, Zoellick said the World Bank has a vital mission to overcome poverty and despair through sustainable growth and opportunity.

    "In recent years, some developing countries have achieved access to finance and have boosted growth to impressive levels," he said. "But too many lands, particularly in Africa, are denied opportunity because of disease, weak health care, and child mortality, hunger and poor agricultural infrastructure, lack of good schools, discrimination against girls and women, unsound governance and corruption, the want of property rights and the rule of law and endangered environment, and impediments to business, investment, economic liberty, entrepreneurs, trade, and a thriving free-market economy."

    Zoellick was the U.S. trade representative from 2001 to 2005 and helped launch the Doha round of world trade talks. He worked on free trade agreements with Singapore, Chile, Australia, and Morocco and oversaw trade talks with five nations of Central America and the Dominican Republic, as well as Bahrain, Jordan, Vietnam, Panama, Thailand, and the Southern African Customs Union.

    Zoellick follows outgoing Bank chief Wolfowitz who is being forced to step down next month, two years into his five-year term. Bank employees and many European contributors complained about Wolfowitz's management style and his role in securing a sizeable pay raise for his girlfriend.

    Following the Wolfowitz scandal, executive directors of the Bank issued a statement saying the essential qualities of the next leader include a proven track record of leadership and political objectivity and independence.

    Zoellick did not mention Wolfowitz by name but said the World Bank has passed through a difficult time for all involved. He said there are frustrations, anxieties and tensions about the past that may inhibit the future, but he vowed to put the discord behind. He said the Bank's best days are still to come.

    The United States is the World Bank's largest donor, and the American president has chosen its chief since the 185-member group was founded following the Second World War. European nations, in turn, choose the head of the International Monetary Fund. Zoellick's nomination must now be approved by the World Bank's 24-member board of governors.

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Immigrant Delegate Marvels at Democratic Processi
    X
    Katherine Gypson
    July 27, 2016 6:21 PM
    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video Immigrant Delegate Marvels at Democratic Process

    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video A Life of Fighting Back: Hillary Clinton Shatters Glass Ceiling

    Hillary Clinton made history Thursday, overcoming personal and political setbacks to become the first woman to win the presidential nomination of a major U.S. political party. If she wins in November, she will go from “first lady” to U.S. Senator from New York, to Secretary of State, to “Madam President.” Polls show Clinton is both beloved and despised. White House Correspondent Cindy Saine takes a look at the life of the woman both supporters and detractors agree is a fighter for the ages.
    Video

    Video Dutch Entrepreneurs Turn Rainwater Into Beer

    June has been recorded as one of the wettest months in more than a century in many parts of Europe. To a group of entrepreneurs in Amsterdam the rain came as a blessing, as they used the extra water to brew beer. Serginho Roosblad has more to the story.
    Video

    Video First Time Delegate’s First Day Frustrations

    With thousands of people filling the streets of Philadelphia, Pennsylvania for the 2016 Democratic National Convention, VOA’s Kane Farabaugh narrowed in on one delegate as she made her first trip to a national party convention. It was a day that was anything but routine for this United States military veteran.
    Video

    Video Commerce Thrives on US-Mexico Border

    At the Democratic Convention in Philadelphia this week, the party’s presumptive presidential nominee, Hillary Clinton, is expected to attack proposals made by her opponent, Republican presidential nominee Donald Trump, to build a wall along the U.S.-Mexico border. Last Friday, President Barack Obama hosted his Mexican counterpart, President Enrique Peña Nieto, to underscore the good relations between the two countries. VOA’s Greg Flakus reports from Tucson.
    Video

    Video Film Helps Save Ethiopian Children Thought to be Cursed

    'Omo Child' looks at effort of African man to stop killings of ‘mingi’ children
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video Recycling Lifeline for Lebanon’s Last Glassblowers

    In a small Lebanese coastal town, one family is preserving a craft that stretches back millennia. The art of glass blowing was developed by Phoenicians in the region, and the Khalifehs say they are the only ones keeping the skill alive in Lebanon. But despite teaming up with an eco-entrepreneur and receiving an unexpected boost from the country’s recent trash crisis the future remains uncertain. John Owens reports from Sarafand.
    Video

    Video Migrants Continue to Risk Lives Crossing US Border from Mexico

    In his speech Thursday before the Republican National Convention, the party’s presidential candidate, Donald Trump, reiterated his proposal to build a wall along the U.S.-Mexico border if elected. Polls show a large percentage of Americans support better control of the nation's southwestern border, but as VOA’s Greg Flakus reports from the border town of Nogales in the Mexican state of Sonora, the situation faced by people trying to cross the border is already daunting.
    Video

    Video In State of Emergency, Turkey’s Erdogan Focuses on Spiritual Movement

    The state of emergency that Turkish President Recep Tayyip Erdogan has declared is giving him even more power to expand a purge that has seen an estimated 60,000 people either arrested or suspended from their jobs. VOA Europe correspondent Luis Ramirez reports from Istanbul.
    Video

    Video Calm the Waters: US Doubles Down Diplomatic Efforts in ASEAN Meetings

    The United States is redoubling diplomatic efforts and looking to upcoming regional meetings to calm the waters after an international tribunal invalidated the legal basis of Beijing's extensive claims in the South China Sea. VOA State Department correspondent Nike Ching has the story.
    Video

    Video Scientists in Poland Race to Save Honeybees

    Honeybees are in danger worldwide. Causes of what's known as colony collapse disorder range from pesticides and loss of habitat to infections. But scientists in Poland say they are on track to finding a cure for one of the diseases. VOA’s George Putic reports.

    Special Report

    Adrift The Invisible African Diaspora