White House to quickly replace World Bank president

The White House today said it will move quickly to find a successor - preferably an American – for departing World Bank President Paul Wolfowitz as the administration sought to rebuild relationships strained by the controversy.

Wolfowitz a day earlier announced that he would step down at the end of June, his leadership undermined by a furore over compensation he arranged in 2005 for Shaha Riza, a bank employee and girlfriend.

“Traditionally, the American nominee has become the World Bank president. We want to move swiftly in this process,” said White House spokesman Tony Fratto.

“We want to make sure that we are selecting the best individual for the job. We want someone who has a real passion for lifting people out of poverty.”

The European Commission today called for a quick appointment, saying the poverty fighting institution needs “stable and strong political leadership.”

Wolfowitz’s departure ends a two-year run at the development bank that was marked by controversy from the start, given his previous role as a major architect of the Iraq war when he served as the No. 2 official at the Pentagon.