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.
    Ivorian Chocolate Makers Promote Locally-made Chocolatei
    X
    July 29, 2016 4:02 PM
    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Ivorian Chocolate Makers Promote Locally-made Chocolate

    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Tesla Opens Battery-Producing Gigafactory

    Two years after starting to produce electric cars, U.S. car maker Tesla Motors has opened the first part of its huge battery manufacturing plant, which will eventually cover more than a square kilometer. Situated close to Reno, Nevada, the so-called Gigafactory will eventually produce more lithium-ion batteries than were made worldwide in 2013. VOA's George Putic reports.
    Video

    Video Polio-affected Afghan Student Fulfilling Her Dreams in America

    Afghanistan is one of only two countries in the world where children still get infected by polio. The other is Pakistan. Mahbooba Akhtarzada who is from Afghanistan, was disabled by polio, but has managed to overcome the obstacles caused by this crippling disease. VOA's Zheela Nasari caught up with Akhtarzada and brings us this report narrated by Bronwyn Benito.
    Video

    Video Hillary Clinton Promises to Build a 'Better Tomorrow'

    Democratic presidential candidate Hillary Clinton urged voters Thursday not to give in to the politics of fear. She vowed to unite the country and move it forward if elected in November. Clinton formally accepted the Democratic Party's nomination at its national convention in Philadelphia. VOA national correspondent Jim Malone has more.
    Video

    Video Trump Tones Down Praise for Russia

    Republican presidential candidate Donald Trump is toning down his compliments for Russia and Vladimir Putin as such rhetoric got him in trouble recently. After calling on Russia to find 30.000 missing emails from rival Hillary Clinton, Trump told reporters he doesn't know Putin and never called him a great leader, just one who's better than President Barack Obama. Putin has welcomed Trump's overtures, but, as Zlatica Hoke reports, ordinary Russians say they are not putting much faith in Trump.
    Video

    Video Uganda Unveils its First Solar-powered Bus

    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Silicon Valley: More Than A Place, It's a Culture

    Silicon Valley is a technology powerhouse and a place that companies such as Google, Facebook and Apple call home. It is a region in northern California that stretches from San Francisco to San Jose. But, more than that, it's known for its startup culture. VOA's Elizabeth Lee went inside one company to find out what it's like to work in a startup.
    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 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 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.

    Special Report

    Adrift The Invisible African Diaspora