World Bank expected to select new president by April 20

PanARMENIAN.Net - The World Bank said Friday, Feb 17, it would select a new president to succeed Robert Zoellick by April 20, the start of the World Bank and IMF's spring meetings in Washington.

But even as the huge development lender set out what it said would be "a merit-based and transparent process" to choose its 12th head from among candidates from around the world, it appeared all but certain to be filled by an American.

Zoellick announced Wednesday he would step down at the end of his five-year term on June 30.

The World Bank said nominations will be accepted through March 23; candidates can come from any of the Bank's 187 member countries.

A shortlist of up to three candidates will be selected for interviews by the Bank's executive directors, "with the expectation of selecting the new president by consensus by the Spring Meetings of 2012," the bank said in a statement.

The board "reconfirmed the importance of a merit-based and transparent process with all executive directors able to nominate and then consider all candidates," AFP reported.