One hundred days is far too short a time for transforming the world. But it is long enough for a new leader to decide where to take the World Bank. Judged by the speech delivered earlier this week, Robert Zoellick has achieved that task.

In the speech, the new president defined the bank’s strategic objective as “inclusive and sustainable globalisation”. He stressed the continued relevance of the great global institutions today’s world has inherited. Not least, he set out relevant strategic themes. It was an encouraging start.