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World Bank board elects new President

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Published 25 June, 2007, 20:29

The World Bank board has approved Robert Zoellick as its new President. Mr Zoellick, proposed by U.S. President George Bush, will replace Paul Wolfowitz.

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Mr Wolfowitz ends his tenure prematurely on June 30 after a scandal over allegations he secured a large pay raise for his companion.

Mr Zoellick was U.S. trade representative between 2001 and 2005.

The World Bank new president begins his five-year tenure on Sunday.

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