MANILA, Philippines – Robert B. Zoellick will step down as World Bank president on June 30, leaving a global lender that has extended $247 billion in aid to boost growth and address poverty in developing countries.
“I’m honored to have led such a world class institution with so many talented and exceptional people. Together we have focused on supporting developing countries to navigate crises and adjust to global economic shifts,” said Zoellick in a statement.
He said the bank under his leadership “recognized that we live in a world of multiple poles of growth where traditional concepts of the ‘Third World’ are now outdated and where developing countries have a key role to play as growth drivers and responsible stakeholders.”
“I’m very pleased that when the world needed the Bank to step up, our shareholders responded with expanded resources and support for key reforms that made us quicker, more effective and more open,” he said, adding that, “The Bank is now strong, healthy and well positioned for new challenges, and so it is a natural time for me to move on and support new leadership.”
Under Zoellick’s leadership, the lender undertook its first major capital call in more than two decades, with developing country-members contributing more than half of the additional funds.
The bank also took the lead in rallying the development community around the global food crisis, with the lender granting $6 billion a year in farm-sector credit.
The bank improved access to information on its projects and procedures, earning plaudits for its aid transparency.
Anti-corruption likewise took the front seat under Zoellick’s terms.
In the Philippines, the bank issued a blacklist of contractors that were found to have cut corners to secure infrastructure deals.
source: interaksyon.com
