Bush chooses World Bank president

US PRESIDENT George Bush has chosen Robert Zoellick, a one-time US trade representative and former senior official at the state department, to lead the World Bank.

Mr Bush announced his decision last night.

Over the past few weeks, the Bush administration had been scouting candidates to replace Paul Wolfowitz, who will leave the poverty-fighting institution on June 30.

Wolfowitz’s resignation followed findings by a special bank panel that he broke bank rules when he arranged a hefty compensation package in 2005 for his girlfriend, Shaha Riza, a bank employee. The controversy prompted calls from the bank’s staff, aid groups, Democratic politicians and others for Wolfowitz to step down.

Treasury Secretary Henry Paulson led the effort to find a replacement.

Bush’s selection must still be approved by the World Bank’s board.

Former Deputy Secretary of State Zoellick, who was Bush’s former trade chief, quickly emerged as a top candidate for the post.

By tradition, the World Bank has been run by an American, while its sister agency the International Monetary Fund is headed by a European.