The United States has a moral and national interest in helping poor and struggling countries transform themselves into free and hopeful societies, Bush said.
The executive directors of the World Bank unanimously selected Robert B Zoellick to succeed Paul Wolfowitz, effective July 1, 2007, as the 11th President of the Bank for a five-year term.
World Bank Chief Robert Zoellick has asked the Chinese government to hasten planned structural reforms to shift the focus of its export-driven economy toward domestic consumption-led growth as the global economy entered a 'new danger zone' this autumn.
In a statement on Wednesday, World Bank said that its President Robert B Zoellick has announced that he would step down at the end of a five-year term in which a transformed Bank played an historic role during the global economic crisis, using record replenishments to provide more than $247 billion to help developing countries boost growth and overcome poverty.
During the Spring Meetings, the issue of Bank's involvement in Botswana and the Tata's Mundhra's plant in Gujarat is likely to come up during the interactive session. It is claimed that the Tata's plant will account for nearly 28 million tonnes of carbon dioxide emission when fully operational. "In the Indian case there is the sense that if you look at India's energy needs, they are very, very significant and where we can we try to look for other sources.
"We can no longer rely on the US consumer to sustain global growth. We need multiple poles of growth," Zoellick told reporters at a news conference in Beijing.
India will be represented by Union Divestment Minister Arun Shourie in the informal World Trade Organisation ministerial meeting convened by US Trade Representative Robert Zoellick
Giving an economic content to his visit to the US in the midst of high-profile diplomatic engagements, Prime Minister Manmohan Singh met World Bank President Robert Zoellick and top American CEOs in the backdrop of the financial meltdown that has kept the Bush Administration on its toes.
World Bank President Robert Zoellick on Friday said India is likely to return to high growth of 8 to 9 per cent in a year or two, helped by strong fiscal and monetary actions to counter the global financial crisis.
Signing a memorandum of understanding in this regard with Confederation of Indian Industry's deputy director general Indrani Kar, World Bank President Robert Zoellick said the India Wildlife Business Council would lead the efforts to save tiger from becoming extinct.
Current President Robert Zoellick, who took office in July 2007, is schedule to retire in June.
Not that his odds are particularly strong at 66/1 -but they're the same as Bill Clinton's! For what it's worth former Brazilian President Lula Da Silva has slightly stronger odds at 20/1.
The current World Bank portfolio in India consists of 68 projects with a total commitment of $19.57 billion, the statement said.
The ministry is also holding a road show aimed at projecting investment opportunities in the sector. The visit is significant as the ministry is scouting investment of $70 billion for road construction in the next 3-4 years, out of which about $45 billion is expected to come from the private sector, including $10 billion from foreign investors.
The World Bank and IMF have announced that they will try to complete reforms in the Bank's voting structure by next year, a move which would give emerging economies like China and India a greater say in the affairs of the financial institutions.
This week's Group of 20 meeting already has a packed agenda: maintaining demand, repairing the global financial system and increasing the International Monetary Fund's resources.
World Bank President Robert Zoellick on Friday called on Prime Minister Manmohan Singh and discussed funding for the changing needs of the country.
The danger today, he said, is no longer, fortunately, one of a collapsing world economy. The danger today is one of complacency.
The two Indian firms are Sabero Organics Chemical and the Sandhya Organics Chemical.
Nobel Peace Prize laureate and economist Muhammad Yunus has urged the World Bank to reform its policies, saying the development lender has failed to achieve its main goal of eradicating poverty because of its failure to modernise anti-poverty lending programmes.
The ministry is seeking a $2.96-billion World Bank funding for double-laning of 6,300 km of single-lane highways, out of a total of about 19,000 km single-lane highways in the country.
In a significant move to make the World Trade Organisations trade negotiations to meet the July-end deadline for a Framework Agreement, Trade Ministers of Non-Group 5 including India are meeting in Paris from July10-11.
India may be represented by Commerce Minister Arun Jaitley at an informal conclave of key trade ministers convened by the United States Trade Representative Robert Zoellick in London this week to break the impasse in the WTO talks.
Rejecting US criticism that India has a closed economy, the government on Thursday said growth in imports were a testimony to the liberalising economy and expressed confidence that the IT industry would find a "creative solution
Former US Trade Representative and US Deputy Secretary of State, Robert B Zoellick (53), is said to be the frontrunner for the post of the next World Bank president, according to a report in the Financial Times.
The United States Trade Representative Robert Zoellick has invited key trade ministers including India's and European Union's for a meeting in London this month end to find ways to move forward in the World Trade Organisation.
India and China will continue to be the focus of the World Bank as these countries represent 70 per cent of the poor in the world, said the Bank president Robert Zoellick. "You've more poor in India than in all of sub-Saharan Africa. So if we're focused on poverty, we have to focus on these countries (India and China)", he told BBC in an interview to be broadcast on Sunday.
Countries like India and China would have to be engaged if the World Bank has to successfully address the issue of poverty, president of the Bank Robert Zoellick has said, brushing aside arguments that the portfolios of these countries needs to be reduced due to their strong foreign exchange reserves.
This will be the last visit of Zoellick as President of World Bank as he is retiring on June 30.
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