Robert Zoellick, a candidate to become the next head of the World Bank, on June 16 said the financial body's influence would not be undermined by Venezuela's likely withdrawal, and claimed that the bank's major challenge is finding new financial products for middle-income countries, AP reported.

During a news conference in Mexico City, Zoellick said: "If a country feels it does not need or want the services of the international financial institutions, then that is their choice. Venezuelans have a great amount of oil money. "I have found no shortage of countries interested in trying to work with the World Bank."
 
Venezuelan President Hugo Chávez claims that the World Bank is a tool of the United States that keeps poor nations in debt. Chávez set up a commission to examine leaving the institution.

"I believe the problems we are facing are not those Chávez is pointing at," Zoellick said.

Zoellick also vowed to repair the institution's reputation after the turmoil surrounding its outgoing president, Paul Wolfowitz.

The World Bank's 24-member board is expected to elect Zoellick to succeed Wolfowitz, who steps down June 30 after a scandal over a hefty pay raise he arranged for his girlfriend, a bank employee.