Bush Names Zoellick As New Chief of World Bank

By Jeffrey Donovan

Washington - U.S. President George W. Bush announced today his nominee to head the World Bank: Robert Zoellick, a former trade representative and top diplomat. Within hours of the first reports of the expected announcement on May 29, the bank's board issued a statement listing the "essential" qualities of its next chief. It did not mention Zoellick, but said the next president should have a "track record of leadership," a "commitment to development" and "multilateral cooperation," and "political objectivity and independence."

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