World Bank President Touts New Strategy

Zoellick calls for fast funds and alternative energy sources
By Peter Fearon,  Newser Staff
Posted Oct 22, 2007 8:25 AM CDT
World Bank President Touts New Strategy
World Bank President Robert Zoellick, left, speaks with U.S. Treasury Secretary Henry Paulson at the start of a meeting of the Development Committee at World Bank Headquarters in Washington, Sunday, Oct. 21, 2007. Global economic leaders are warning of inflation risks in advanced countries during the...   (Associated Press)

(Newser) – Robert Zoellick has outlined a new strategy for the World Bank, including giving the private sector a bigger role in development, speeding aid to countries coming out of conflict, and promoting green energy alternatives, Reuters reports. The new president  has been quick to reposition the global bank's mission following the turmoil over former president Paul Wolfowitz's resignation under duress.

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"I believe we need to take a fresh look at the bank's strategic direction," Zoellick said in his first speech to officials of the member nations. He also called for more funding from the major industrialized nations. "We need developed countries to translate their words from summit declarations into serious numbers," he said. (Read more World Bank stories.)

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