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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release September 28, 1999

STATEMENT BY THE PRESIDENT

I am very pleased that Jim Wolfensohn will serve a second term as World Bank president. During a precarious period for the world economy, Jim has shown a true passion for helping people who live in the poorest countries of the world weather the financial crisis, and making sure they have a voice in decisions that affect them.

Jim's hands-on style has served the World Bank well. He has traveled to more than 100 countries to see for himself what is working and what needs to be done to create jobs, improve education, fight hunger and attack diseases like AIDS. And he has shown an abiding commitment to reinventing the World Bank - to make sure that it is equipped to meet the challenges of globalization. In addition to improving governance and broadening participation, he has been working hard to improve transparency and clamp down on corruption.

His leadership, imagination and deep moral commitment make him an outstanding choice for the World Bank as it enters the next century.

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