World Bank President Paul Wolfowitz attends a closing news conference on the final day of the International Monetary Fund and World Bank spring meeting in Washington April 15, 2007. (Xinhua/Reuters Photo) Photo Gallery>>>

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World Bank chief apologizes for promotion of female friend

    WASHINGTON, April 12 (Xinhua) -- World Bank President Paul Wolfowitz on Thursday apologized for the promotion and pay rises for a close female friend he has dated.

    "I made a mistake, for which I am sorry, " said Wolfowitz, but declined to say whether he would resign. Full story

Bush affirms support for embattled World Bank chief

    WASHINGTON, April 13 (Xinhua) -- U.S. President George W. Bush affirmed his support on Friday for the World Bank president who is trapped in a scandal about personally dictating the terms of a promotion and pay raise for his lover.

    "The president has full confidence in Paul Wolfowitz," White House spokeswoman Dana Perino told reporters at the daily briefing. Full story

World Bank board yet to decide on Wolfowitz

    WASHINGTON, April 13 (Xinhua) -- The World Bank's board of directors on Friday reviewed the pay hikes and promotion given by bank President Paul Wolfowitz to his girlfriend Shaha Riza.

    In a statement released by the World Bank's 24 executive directors, the board said it found that Riza's promotion and salary increase was not reviewed by an ethics committee nor the board's chairman before it was approved. Full story