The board of the World Bank is expected to announce today that Robert Zoellick is the only nominee to become the institution's president; the deadline for nominations has now closed. The board of 24 directors, representing 185 member countries, will proceed to evaluate his candidacy and the process will be completed by the end of the month.
Barring the unforeseen, Mr Zoellick is certain to be confirmed, not least because he was nominated by President George Bush, and the US - as the largest contributor - has always supplied the president.
Mr Zoellick has not been wasting his time since he was nominated. He has been touring European and African countries and last week was in Germany seeking support from one of the Bank's more influential members. He took the opportunity in Berlin to take a shot at China for its support of corrupt African regimes in exchange for economic exploitation. He also took a swipe at Russia's President Putin who has dismissed the Bank as irrelevant in a fast-moving global economy.
The World Bank is far from irrelevent but it does show its age. It came into being in 1944 to fund reconstruction and redevelopment in a war-torn world, especially in Europe. Its principal role remains the provision of funds for the developing world. However, there are those who would argue that the Bank is more concerned about US rather than global interests. Loans have been conditional on political change, which is understandable when the government in question is corrupt. But a distinction seems to have developed where change is not so readily demanded when the government is an ally of the United States.
Mr Zoellick's nomination has been broadly welcomed. He is a distinguished career diplomat who as a foreign policy realist had little sympathy for the hardline diplomacy favoured by the White House and, as a consequence, was passed over for promotion. He can bring a wealth of relevant experience to the World Bank post. He also has the diplomatic skills to undo the damage caused by outgoing president Paul Wolfowitz whose behaviour and shortcomings succeeded only in splitting the bank and undermining morale within it.
However, the Bank's board must not treat Mr Zoellick's presidency as a done deal. He must convince them that he has a firm understanding of what it seeks to do and of its full potential in alleviating poverty. The Bank hopes to raise $30 billion over the next three years to further its aims. Mr Zoellick must demonstrate that the Bank deserves that funding and will distribute it without fear or favour.