The World Bank said Friday that it hopes to select a new president to lead the international development lender by the banks spring meetings, which conclude on April 21, DPA reported.
The bank's executive directors met Friday to discuss the selection of a new leader, after President Robert Zoellick's announcement Wednesday that he would not seek reappointment when his five-year term expires at the end of June.
Under measures approved in 2011, the board said that the presidential selection process should be merit-based and transparent, with all executive directors able to nominate candidates.
Nominations for the presidential post are due by March 23, the board announced. Finalists will be interviewed by the executive directors "with the expectation of selecting the new president by consensus by the spring meetings."
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