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World Bank executive board sets goal of choosing new president by late April
WASHINGTON (AP) ' The World Bank plans to select its next president by the time of its spring meetings in late April.
The bank's 25-member executive board says it will accept nominations until the close of business on March 23.
The board says it will select up to three candidates to interview. It wants to finalize its selection by the time of the semi-annual meetings of the World Bank and its sister lending organization, the International Monetary Fund.
Robert Zoellick, the current World Bank president, says he will step down when his five-year term ends June 30.
Since the IMF and the World Bank were created, the IMF job has gone to a European, and the World Bank post has gone to an American. But economies such as China are pushing for consideration.