The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Peter Costello

Peter Costello

Treasurer

11 March 1996 - 3 December 2007

Media Release of 31/05/2007

NO.046

NOMINATION OF ROBERT ZOELLICK FOR WORLD BANK PRESIDENT

The Treasurer today welcomed the announcement that Mr Robert Zoellick will be the US nominee for the position of President of the World Bank.

Mr Zoellick has filled key positions in the US Administration, including Deputy Secretary of State and US Trade Representative.  He is well‑known in Australia as a participant in the Australia-America Leadership Dialogue meetings.  As the United States Trade Representative, Mr Zoellick was the US negotiator on the Australia-United States Free Trade Agreement.  Mr Zoellick is currently a senior executive at the investment bank Goldman Sachs. 

The Treasurer said Mr Zoellick is an excellent candidate for the World Bank Presidency and will be supported by Australia.  The President is formally appointed by the World Bank’s Executive Board, with nominations closing on 15 June.

Following the completion of current processes, it is Australia’s view that the World Bank should examine the selection process for the President in line with the objectives advanced by the G-20 of openness, transparency and merit‑based selection without restriction by nationality.

CANBERRA
31 May 2007

Contact: Renae Stoikos - 02 6277 7340