[Weekly Compilation of Presidential Documents Volume 43, Number 22 (Monday, June 4, 2007)]
[Pages 697-699]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks on the Nomination of Robert B. Zoellick To Be President of the 
World Bank

May 30, 2007

    The President. Good morning. I thank Secretary of Treasury Paulson 
for joining us today. I'm pleased to announce that I will nominate Bob 
Zoellick to be the 11th President of the World Bank.
    Bob Zoellick has had a long and distinguished career in diplomacy 
and development economics. It has prepared him well for this new 
assignment. He is a committed internationalist. He has earned the trust 
and support of leaders from every region of the world. He is deeply 
devoted to the mission of the World Bank. He wants to help struggling 
nations defeat poverty, to grow their economies, and offer their people 
the hope of a better life. Bob Zoellick is deeply committed to this 
cause.
    Since the end of the Second World War, the advance of trade and 
technology has lifted hundreds of millions of people out of poverty. 
Some call this globalization; I call it the triumph of human liberty, 
stretching across national borders. Every day, the expansion of trade 
creates tremendous new opportunities for people. Unfortunately, too many 
people are shut out from these opportunities, especially the nearly 1 
billion men, women, and children who live on less than $1 a day. Bob 
Zoellick understands that there are about 1

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billion men, women, and children who live on less than $1 a day, and 
he's committed to doing something about it.
    The United States has a moral and national interest in helping poor 
and struggling countries transform themselves into free and hopeful 
societies. The job of the World Bank is to help reduce poverty and raise 
living standards in the poorest nations. The Bank does this by helping 
these nations strengthen good government, develop sound financial 
markets, uphold property rights, and combat corruption.
    The United States is the Bank's largest donor. And the reason we are 
is because we believe that it is essential to help developing nations 
build growing economies that will provide jobs and opportunities for all 
their citizens.
    Bob Zoellick brings a wealth of experience and energy to this task. 
Over the past three decades, he's held important posts in government, 
business, and higher education. And in these posts, he has worked on 
issues ranging from German unification, Latin American debt relief, to 
the transition of post-Soviet economies.
    For the past 6 years--or most of the past 6 years, he has served as 
a member of my Cabinet. As the United States Trade Representative, he 
helped bring China and Taiwan into the World Trade Organization, 
launched the Doha round of trade talks at the WTO, and significantly 
increased the number of U.S. free trade agreements.
    Bob has had a strong voice for Africa. He's helped implement the 
African Growth and Opportunity Act that has increased America's trade 
with that continent.
    He has served on the board of the Millennium Challenge Corporation, 
an initiative designed to change the way we deliver foreign aid. In 
2005, I asked Bob to serve as the Deputy Secretary of State. In that 
role, he managed a global staff of 57,000 people; he played a leading 
role in our engagement with China; and he traveled frequently to Darfur 
and southern Sudan to help find a path for peace. Most recently, he has 
been vice chairman international at Goldman Sachs. In short, it would 
probably be easier to list all the jobs Bob hasn't had.
    This man is eminently qualified, and when he takes his place at the 
World Bank, he will replace another able public servant, Paul Wolfowitz. 
Paul is a man of character and integrity. Under his leadership, the 
World Bank increased its support for the world's poorest countries to a 
record $9.5 billion in 2006. Half of this money goes to sub-Sahara 
Africa. It's home to some of the poorest folks. As Paul has helped steer 
more resources to these countries, he has instituted reforms designed to 
make sure that these resources are used wisely and achieve good results.

    Paul took control over the World Bank at a critical moment. He's 
taken many steps to ensure that the Bank can meet the needs of 
developing nations in this new century. These steps include 
strengthening the Bank's role in combating malaria. These steps include 
establishing a rapid response in fragile-states policy to respond more 
quickly to nations recovering from crisis or war. These steps include 
the Clean Energy Investment Framework, a Bank initiative designed to 
help bring cleaner and more efficient technologies to developing 
countries.

    In these and many other ways, Paul Wolfowitz has made the World Bank 
a more effective partner for development. I thank him for his dedication 
to the poor and his devotion to the good work of the World Bank.

    Bob Zoellick is the right man to succeed Paul in this vital work. 
He's a leader who motivates employees. He builds a constituent support 
and focuses on achieving goals. I'm pleased that he has, once again, 
agreed to serve our country.
    Congratulations.

 [At this point, President-designate Zoellick made brief remarks.]

    The President. Thanks, Bob. Thank you.

Note: The President spoke at 11:02 a.m. in the Roosevelt Room at the 
White House. The transcript released by the Office of the Press 
Secretary also included the remarks of President-designate Zoellick.

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