May 31 2007

Zoellick Nominated to Lead World Bank

Feature Stories | Published 31 May 2007, 9:42 am | Comments Off on Zoellick Nominated to Lead World Bank -

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ZoellickGUESTS: Jo Marie Griesgraber, Executive Director of New Rules for Global Finance Coalition, Ruth Castel-Branco, Outreach/Communications Coordinator, 50 Years Is Enough Network

On Wednesday, President Bush nominated Robert B. Zoellick as a candidate for Managing Director of the World Bank. Zoellick had previously served in high-ranking foreign policy and economic policy posts under three Republican presidents, including Ronald Reagan. He served as US trade representative under Bush in 2001 during which he distinguished himself primarily by protecting U.S. pharmaceutical firms in global trade talks. Zoellick was also known for repeatedly rejecting developing countries’ concerns on issues like agriculture, access to medicines, and protecting biodiversity. Last year, he became a top executive at Goldman Sachs, a global financial corporation. The US has exclusive authority to select the top post at the World Bank. If selected, Zoellick will replace the disgraced Paul Wolfowitz who resigned over a bank investigation which found that he had violated policy by involving himself in personnel decisions regarding his girlfriend.

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