US President George W. Bush last month picked Zoellick, 53, a former US trade representative and deputy secretary of state, to succeed bank Paul Wolfowitz, who was forced to resign in a favoritism scandal.

In a statement, the Bank's directors said they "have decided to invite the nominee to an informal meeting on June 20, to discuss key issues of interest to the World Bank Group, including the challenges of development, the World Bank Group's governance and leadership as well as future strategic directions."

The directors also said they had only received one nomination -- that of Zoellick -- by the June 15 deadline to replace Wolfowitz.

After the Wednesday meeting "and follow-up interactions and consultations with their respective authorities," the Bank directors "intend to meet again on June 25, 2007 to decide on the presidency of the Bank," the statement said

"They expect that all the required processes will be completed by June 30, 2007," it said.

Wolfowitz announced his resignation on May 17, under pressure from an internal probe that found he broke rules by arranging a lavish pay-and-promotion package for his companion, a bank employee.

He leaves office on June 30. Traditionally the United States picks the leader of the World Bank and European countries name the head of its sister institution, the International Monetary Fund.

Zoellick, currently a vice chairman at Wall Street investment bank Goldman Sachs, was the US Trade Representative from 2001 to 2005.

He played a major role in negotiating the entry of China and Taiwan into the World Trade Organization and the launch of the WTO's Doha Round of international trade negotiations.