UN Secretary-General Kofi Annan on Thursday welcomed the election of outgoing US Deputy Defense Secretary Paul Wolfowitz as the new president of the World Bank.

"The secretary-general congratulates Paul Wolfowitz on his election as the next president of the World Bank," said a UN spokesman in a short statement.

"At a time when the world has before it far-reaching proposals for achieving the millennium development goals, the secretary-general looks forward to working closely with Mr. Wolfowitz in the fight against global poverty," the statement said.

Earlier Thursday, the World Bank approved the nomination of Wolfowitz to be its next president. He was nominated by US President George Bush to take the helm of the bank earlier this month.

Source: Xinhua