NO.020

NOMINATION OF DR PAUL WOLFOWITZ FOR WORLD BANK PRESIDENT

The Treasurer today welcomed the nomination of Dr Paul Wolfowitz for the position

of World Bank President. Dr Paul Wolfowitz is currently the US Deputy Secretary

for Defense.

‘Dr Wolfowitz has the leadership qualities, management skills and diplomatic

experience necessary to head an institution at the forefront of efforts to tackle

global poverty,’ the Treasurer said.

‘Dr Wolfowitz has spent 24 years in government service under six Presidents.

He is familiar with our region, including having spent three years as US Ambassador

to Indonesia in the late 1980s and three-and-a-half years as Assistant Secretary

of State for East Asian and Pacific Affairs.

‘His extensive public service, diplomatic and academic background and

his track record of managing large organisations mean that he is well placed

to ensure that the Bank continues to play a key role in leading and shaping

the international development agenda.

‘I would also like to take this opportunity to congratulate the outgoing

President, James Wolfensohn for his passion, energy and many successes during

his tenure as World Bank President.

‘As the first Australian born President of the World Bank, Mr Wolfensohn’s

accomplishments are something of which all Australians can be proud.’

18 March 2005

CANBERRA

Contact: David Alexander

02 6277 7340