MercoPress. South Atlantic News Agency

Wolfowitz confirmed World Bank president

With crucial support from the European Union, former Pentagon Deputy Paul Wolfowitz, described as a “hawk” was confirmed Thursday as the next president of the World Bank.

Despite the early opposition the directors of the World Bank finally and unanimously approved the controversial Mr. Wolfowitz as the multilateral institution tenth president who will be taking office next June 1.

"It is humbling to be entrusted with the leadership of this critically important international institution", said Mr. Wolfowitz in a statement adding that "helping the poorest of the world to lift themselves from poverty is a noble mission, a beautifully mission, and I believe deeply in that mission".

Mr. Wolfowitz has been questioned for his crucial role in the Iraq war and his total lack of experience in development affairs.

"I look forward to deeping my understandings of the challenges facing the Bank", he said pointing out that he has a new appreciation for the urgent need for debt relief as well as for "infrastructure and regional integration".

He also highlighted the topics of the international trade policies and subsidies WB agenda including the involvement of private sector investment "as a key factor influencing prospects for the poor".

The proposal of Mr. Wolfowitz by the Bush administration was originally seen as an attempt to bend a multilateral organization of US demands, but the incoming WB president admitted he was a controversial figure.

"I understand that I am to put it midly, a controversial figure, but I hope that as people get to know me they will understand that I really do believe deeply in the mission of the Bank".

He further promised to seek a "truly multinational" management team.

Traditionally the US nominates the head of the World Bank and Europe the International Monetary Fund Managing Director.