World Bank President Resigning Amid Conflict of Interest Scandal（2/2）

"And just like he's had an interest in what's best for making sure the Bank focused on things that matter: human suffering, the human condition. I -- and so I applaud his vision, I respect him a lot, and as I said, I regret this has come to this right now."

By tradition, the United States nominates the president of the World Bank, which like its neighbor the International Monetary Fund-which is run by a European, was set up in the aftermath of World War Two. The bank has had only ten presidents and Wolfowitz is the first to be forced to resign.

Wolfowitz's hold on the top job became untenable earlier this week as the bank's board moved towards a vote to remove him. That vote never occurred as Wolfowitz resigned after obtaining a statement that he acted in good faith concerning his companion, British national Shaha Riza. In an unprecedented" class="hjdict" word="unprecedented" target=_blank>unprecedented action, Germany's development minister said Wednesday that Wolfowitz would be unwelcome at a Berlin meeting he was scheduled to attend next week.

There is as yet no indication as to who will replace Wolfowitz as head of the world's biggest development institution.