World Bank head Wolfowitz to quit

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Friday, 18 May 2007, 02:21 GMT 03:21 UK

Paul Wolfowitz is to quit as president of the World Bank following a bitter promotion row involving his girlfriend.

After lengthy talks with the bank's board, Mr Wolfowitz said he would quit the global lending body on 30 June.

He had faced widespread calls for his resignation after being accused of a conflict of interest over a pay rise given to ex-bank employee Shaha Riza.

The White House, which had backed Mr Wolfowitz, said President George W Bush reluctantly accepted his decision.

Mr Bush's former deputy defence secretary joined the World Bank in 2005.

The bank said it would start an immediate search for his successor.