Zoellick backs World Bank's role

Profile: Robert Zoellick

The World Bank's new boss, Robert Zoellick, has told the BBC that the organisation still has a vital role.

Responding to suggestions in the US that its work should be taken over by the private sector, he said many countries relied upon its expertise.

He said developing nations recognised the World Bank as "a neutral and very important source of knowledge and expertise".

Mr Zoellick replaces Paul Wolfowitz, who resigned over a scandal.

Mr Wolfowitz stood down after revelations that he had helped his girlfriend, who works at the World Bank, secure promotion and a hefty pay rise.

Real sensitivity

Mr Zoellick told the BBC World Service that a key reason why the World Bank remained vital was that many African nations simply did not have access to private Western capital.

He said that where private money was available to African countries, the World Bank could help deliver it.

Mr Zoellick added that the World Bank was determined to ensure that concerns over climate change would not divert its attention from Africa.

"There is real sensitivity on the part of African countries that the World Bank and developing countries will, all of a sudden, turn their backs on the concerns of basic growth and social conditions in Africa to [focus on] that of climate change," he said.

"In reality, the two need to be interconnected, as climate change also affects poor countries."

A former US deputy secretary of state, Mr Zoellick had most recently worked for investment bank Goldman Sachs.

Under an unwritten agreement, the US chooses the head of the World Bank, while European countries select the leader of its sister institution, the International Monetary Fund.

That appointment is now pending, as the current head of the IMF, Rodrigo Rato, has said he will step down early in October.

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