World Bank President Zoellick to step down June 30th
WASHINGTON. February 18. KAZINFORM World Bank Group President Robert B. Zoellick announced on Feb 15 he would step down at the end of a five-year term in which a transformed Bank played an historic role during the global economic crisis, using record replenishments to provide more than $247 billion to help developing countries boost growth and overcome poverty, the World Bank's press release reads.
"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. The Bank has recognized that we live in a world of multiple poles of growth where traditional concepts of the "Third World" are now outdated and where developing countries have a key role to play as growth drivers and responsible stakeholders. At the same time, we've scaled up our support to poor people, countries, and communities and shown that the Bank can be an indispensable innovator, catalyst, and driver of a modernized multilateralism," said Zoellick.
"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," Zoellick added. "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."