Washington, May 16:

World Bank president Paul Wolfowitz begged the lender’s board to let him keep his job, promising changes in his management style in the wake of a damaging favouritism scandal.

The board of executive directors was to continue deliberations on his fate today, after the US reiterated its support for the embattled bank chief. However, a White House spokesman entertained ‘all options,’ an opening interpreted by the US media as a sign of his imminent departure.

According to a hearing transcript released by his lawyer, Wolfowitz answered allegations he had put his ‘personal interests’ above the rules, risking the very mission of the development lender. The World Bank chief refuted point by point a scathing report by a bank investigatory panel published on Monday co-ncluding he had breached bank ethics rules in arranging a lucrative pay-and-promotion package and transfer to the State Department for his companion and fellow bank employee, Shaha Riza.

“I have said I am not without fault in the matter,” Wolfowitz told the executive directors. “I implore each of you to be fair in making your decision, because your decision will not only affect my life, it will affect how this institution is viewed in the US and the world,” he said.

The month-old scandal has riven the 185-country bank — most European members are calling for Wolfowitz’s resignation — and threatens to undermine the bank’s ability to fulfill its mission to combat poverty.

“I fear that the way this recent inquiry is handled has the potential to do greater long-term damage to the institution than the alleged underlying ethics issue that was, in point of fact, put to rest over a year ago,” he said.

“You still have the opportunity to avoid long-term damage by resolving this matter in a fair and equitable way that recognises that we all tried to do the right thing, however imperfectly we went about it,” he told the board. “My conduct with respect to Riza’s external placement does not justify taking any action against me or warrant a finding that you lack confidence in my leadership,” he said.