Ask a candidate for President of the U.S. World Bank

Ask a candidate for President of the U.S. World Bank

WASHINGTON (AFP / Reuters) - The United States will nominate a candidate to head the World Bank, Treasury Secretary Timothy Geithner said on Wednesday, following the decision of the World Bank President Robert Zoellick to resign at the end of his term in June.

"It's important that we continue to have strong leadership, and effective in this important institution, and in the coming weeks, we plan to propose a candidate with experience and qualities necessary to take this institution forward," Geithner said in a statement.

Geithner, who was among those mentioned as a possible replacement for Zoellick, praised his fellow American to lead the World Bank through economic and financial crisis.

"Bob Zoellick has been a very effective leader of the World Bank at a very critical time in the world economy," he said.

"Under his leadership, the Bank has made an important contribution to the response to the global financial crisis, increasing food security, and strengthen post-conflict states and transitions.

"Under Bob's leadership, the World Bank has become an institution more effective, accountable and transparent."


Geithner stressed that the United States remains strongly committed to the World Bank, the Congress approved a significant funding agreement late last year.

"With this agreement, the United States to continue its leadership role in the World Bank, the largest shareholder," he said.

Zoellick, 58, announced Wednesday morning that he will leave the World Bank at the end of a five-year tenure on June 30.

His departure set the "battle" or a second fight in less than a year over the U.S. and European dominance at the World Bank and International Monetary Fund, two leading multilateral financial institutions in the world.

Thanks to an unwritten agreement between European powers and the United States is determined when the two Washington-based institute was launched in 1945, all World Bank president is given to Americans and all come from the IMF managing director

Europe.

A number of developing countries and non-governmental organizations have been lobbying for years to end the tacit agreement to better reflect today's global economy.

United States of America, Geithner said, pushing the World Bank's executive board "to move forward with the process open and fast" in choosing the next leader of the state's 187 agencies.

The U.S. uses the same formula after IMF chief Dominique Strauss-Kahn abruptly resigned in May last year. But Washington's support of the European candidate, French Finance Minister Christine Lagarde, who was elected on a non-European to succeed him.

The U.S. is the largest stakeholder in both the IMF and World Bank. (Rr)
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