May 17, 2007
HP-411

Statement by Secretary Paulson on
World Bank President Paul Wolfowitz

"I commend Paul Wolfowitz for his distinguished career as a dedicated public servant. His efforts to fight poverty throughout the world, the progress he's effected for the people of Africa, his bold efforts to fight corruption, and his work on the World Bank's other critical priorities have made a significant difference across the globe and in the lives of many. His stewardship of this important institution has been marked by enthusiasm and dedication to the critical mission of the Bank.

"The World Bank is an important institution for helping to lift people out of poverty – a goal that America has been very generous in supporting.

"I intend to move quickly to help the President identify a nominee to lead the World Bank going forward. I will consult my colleagues around the world as we search for a leader who will continue to focus the Bank on creating opportunities for the world's poorest by assuring that resources are directed to effective, efficient, well-coordinated projects. We at Treasury look forward to working with our colleagues at the Bank to ensure a smooth transition process."