Wolfowitz

WASHINGTON, (Reuters):

World Bank President Paul Wolfowitz said yesterday he was resigning as of June 30, ending a protracted battle over his stewardship sparked by a promotion he arranged for his companion.

"The poorest people in the world ... deserve the very best we can deliver," Wolfowitz said in a statement issued by the bank's board. "Now it is necessary to find a way to move forward."

"I am announcing today that I will resign as president of the World Bank Group," he added.

The White House said President George W. Bush would quickly announce a new candidate to head the poverty-fighting institution.

Wolfowitz's resignation ends a tumultuous two years at the bank where he was dogged by his legacy as an architect of the Iraq war, despite focusing attention on Africa's needs and launching a controversial campaign against corruption.