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Statement By World Bank Executive Directors Representing EU Member Countries On Their Meeting With Paul Wolfowitz

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Gerry Rice (202) 473-1842

Damian Milverton (202) 473-6735


WASHINGTON, March 24, 2005—Executive Directors representing European Union member countries of the World Bank met with Mr. Paul Wolfowitz, the United States nominee for the position of World Bank President on Wednesday, March 23, 2005.  The purpose of the meeting was to hear the candidate’s views on specific issues of relevance to the Bank’s future. 


The discussion was open and constructive and touched on the following issues:


  • the overarching goal of the World Bank—poverty reduction;
  • its strengths and weaknesses as a finance and knowledge institution;
  • its role among multilaterals and bilateral development agencies in supporting client countries;
  • aid effectiveness and corruption;
  • the mix of loans, grants and debt relief as vehicles for development finance;
  • corporate governance; and
  • organizational effectiveness. 


The Executive Directors representing EU member countries encouraged Mr. Wolfowitz to continue his consultations with EU Governors. He accepted an invitation to meet with the EU Governors in Europe ahead of a decision by the Board on the future President of the World Bank.


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