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Zoellick said to be World Bank nominee

Robert Zoellick

TEXT OF STORY

KAI RYSSDAL: You're going to want to get the spelling right on the name of the guy in this next story. It's Z-O-E-L-L-I-C-K.

There's anonymous word this afternoon from a senior administration official that Robert Zoellick will be nominated to be the new president of the World Bank tomorrow by President Bush.

Marketplace's Hillary Wicai — that's W-I-C-A-I — reports.


HILLARY WICAI: Robert Zoellick was a one-time U.S. trade representative and the former number two official at the State Department. He will replace Paul Wolfowitz, who steps down as World Bank president at the end of June. That follows an ethics scandal involving securing a new job and a pay raise for Wolfowitz's girlfriend.

Zoellick is known for his high-level contacts with Europe, China, Latin America and Africa. He built a strong reputation with developing countries as the lead U.S. trade negotiator. He's also known for his involvement in the reunification of Germany. He quit the State Department last summer, after he was passed over for Treasury Secretary.

The selection of Zoellick is already getting a positive reaction from other countries, and the White House expects him to be accepted by the World Bank Executive Board. The president is expected to announce his decision about the new World Bank head tomorrow.

In Washington, I'm Hillary Wicai for Marketplace.

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