The board, in a brief statement, said Zoellick brings “strong leadership and managerial qualities as well as a proven track record in international affairs and the drive required to enhance the credibility and effectiveness of the bank.”

As World Bank chief, he’ll have his work cut out for him. He’ll need to regain trust, rebuild credibility and mend frayed relations inside the institution as well as with its member countries worldwide. He’ll also need to persuade countries to contribute nearly $30 billion over the next few years to fund a centerpiece bank program that provides interest-free loans to the world’s poorest countries.

The board said it was confident that Zoellick will be able to “address the challenges facing the bank.”

Of those challenges, Zoellick said: “The world has changed enormously since the creation of the bank some 60 years ago. This accomplished institution of development, reconstruction and finance not only needs to adapt: it must lead the way,” to bring about global change to help the world’s poor.

German Development Minister Heidemarie Wieczorek-Zeul, who was highly critical of Wolfowitz, was one of the first to congratulate Zoellick.

“He brings all of the qualifications with him needed to successfully fill this demanding and responsible role...The greatest tasks facing mankind in the 21st century are waiting: The fight against poverty and climate change,” Wieczorek-Zeul said in a statement. “I look forward to cooperating with him and wish him much success.”

To begin the healing process, Zoellick took a two-week global tour to Africa, Europe and Latin America. His goals were listening and learning, he said.

He’s also been working to keep lines of communications open with the board. Zoellick met with the board for around four hours last Wednesday to discuss key issues, including challenges of development, the bank’s governance and leadership as well as future strategic directions. He plans to reach out to staff, as well.