Zoellick takes the reins at the World Bank on July 1. - Reuters

The World Bank yesterday unanimously approved Robert Zoellick as its president after a controversial two-year term by Paul Wolfowitz, who agreed to resign over a promotion scandal involving his companion. The former deputy U.S. secretary of state and trade representative was the only nominee for the job and will overlap for a week with Wolfowitz before he officially takes the reins of the poverty-fighting institution on July 1.

Zoellick, 53, has said his first priority will be healing rifts between management and staff caused by the bruising battle over Wolfowitz, whose tenure at the bank was tainted from the start by his reputation as an architect of the Iraq war.

'Ready to work'

"It is a special honour and responsibility and I am ready to get to work," Zoellick said in a statement.

A tough negotiator with a reputation for being extremely demanding, Zoellick has said he will focus on the poorest countries in Africa, but also wants to define a clearer role for the World Bank in emerging nations like China, India and Brazil, which despite rapid economic growth are still dogged by high poverty levels.

- Reuters