WASHINGTON, March 16, 2005 — The World Bank's Board has received a nomination from the United States for the Presidency of the Bank of Dr. Paul D. Wolfowitz, U.S. Deputy Secretary of Defense. The Executive Directors of the Board, who are charged under the Bank's Articles of Agreement with the selection of the Bank's President, are in the process of consultations with the member countries they represent. An official announcement of the outcome of the deliberations and actions of the Executive Directors will be made as soon as a decision has been reached