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| Version 0 | Version 1 |
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| Wolfowitz to quit the World Bank | Wolfowitz to quit the World Bank |
| (10 minutes later) | |
| Paul Wolfowitz is to quit as head of the World Bank after a bitter promotion row involving his partner. | Paul Wolfowitz is to quit as head of the World Bank after a bitter promotion row involving his partner. |
| The global lending body said Mr Wolfowitz would step down on 30 June and that it would begin the search for a successor immediately. | The global lending body said Mr Wolfowitz would step down on 30 June and that it would begin the search for a successor immediately. |
| Mr Wolfowitz faced widespread calls for his resignation after being accused of a conflict of interest over a pay rise given to bank employee Shaha Riza. | Mr Wolfowitz faced widespread calls for his resignation after being accused of a conflict of interest over a pay rise given to bank employee Shaha Riza. |
| The former US deputy defence secretary joined the World Bank in 2005. | |
| 'Good faith' | |
| In a statement, the World Bank said it had been assured by Mr Wolfowitz that he had "acted ethically and in good faith". | |
| But it acknowledged that a "number of mistakes" had been made in how Ms Riza's role and remuneration had been handled. | |
| It added that it "regretted" that Mr Wolfowitz's achievements at the Bank had been "overshadowed by recent events". | |
| In response, Mr Wolfowitz said his decision to resign was "in the best interests" of the institution, which has more than 180 members worldwide. | |
| Mr Wolfowitz has been under severe pressure for several weeks, with a number of European politicians calling on him to step down to prevent the Bank's credibility in tackling corruption worldwide from being eroded. | |
| The White House strongly supported Mr Wolfowitz although experts believed its influence would not be enough to save Mr Wolfowitz in the face of European hostility. | |
| President George W. Bush said earlier on Thursday that he regretted the current situation. |