The board of the World Bank by common consent approved Paul D. Wolfowitz yesterday as the bank’s next president. This was the first time when a Bush administration’s nominee was given the helm of the world-wide anti-poverty institution.
The approval appeared two weeks after President Bush nominated Wolfowitz, the deputy defense secretary and one of the main architects of the Iraq war.
The move at first aroused criticism in European countries that opposed the Iraq war.
But Mr. Wolfowitz seemed quite confident and even friendly towards his opponents. "Fortunately, I already know I will have a great deal of help from the many people who are deeply committed to the mission of the World Bank," he said.
The appointment of Wolfowitz as president will boost the Bush administration’s influence on the World Bank’s international activities. The bank lends about $20 billion a year to developing countries. It makes great impact using such financial facilities.
The appointment also revealed deep contradictions between the U.S. and the EU as to division of the ruling positions in the World Bank and the International Monetary Fund.