Paul Wolfowitz, president of the World Bank, said yesterday he intends to remain at the helm of the bank despite a storm over his handling of a female companion’s promotion and salary.

“I believe in the mission of this organization and I believe I can carry it out,” Wolfowitz told a news conference, where he was asked repeatedly if he had the credibility necessary to run the bank. Wolfowitz said he looked forward to the bank’s board of directors completing its examination of the issue. The board said it planned to move quickly to complete its review.

“I share [a desire] for the board to look into this matter and complete its work. We intend to adhere to a high standard of internal governance here at the bank,” Wolfowitz said, pointing to his record on African development since joining the bank. “This is important work and I intend to continue it”. Wolfowitz is being scrutinized over his involvement in securing a $193,590 job for his companion, Shaha Riza, at the State Department soon after he joined the World Bank in 2005.

In an extraordinary scene at World Bank headquarters last Thursday, staffers heckled Wolfowitz by shouting “resign” as he attempted to apologize for his handling of the issue. The World Bank Development Committee, a group of finance ministers from developing countries, said it viewed the Wolfowitz investigation with “great concern,” but stopped short of asking him to step down. The group’s Development Committee, which represents the bank’s 185 member nations, said the organization must adhere to high standards.

The bank’s directors are weighing Wolfowitz’s future as head of the agency after finding he dictated the terms of Riza’s salary increase and promotion. The raise was twice as large as allowed by bank rules, according to the Staff Association, which represents 13,000 employees and is demanding he resign.

France and Germany, among the largest shareholders in the bank, have declined to support Wolfowitz, leaving him dependent on the support of the Bush administration.