Nearly three years after Paul Wolfowitz resigned as deputy Defense secretary and six months after his stormy departure as president of the World Bank --- amid allegations that he improperly awarded a raise to his girlfriend --- he's in line to return to public service.

Secretary of State Condoleezza Rice has offered Wolfowitz, a prime architect of the Iraq War, a position as chairman of the International Security Advisory Board [ISAB], a prestigious State Department panel, according to two department sources who declined to be identified discussing personnel matters. The 18-member panel, which has access to highly classified intelligence, advises Rice on disarmament, nuclear proliferation, WMD issues and other matters.

"We think he is well suited and will do an excellent job," said one senior official.

The Secretary of State's International Security Advisory Board, formerly called the Arms Control and Nonproliferation Advisory Board (ACNAB), provides the Department with independent insight and advice on all aspects of arms control, disarmament, international security, and related aspects of public diplomacy. The ISAB is sponsored and overseen by the Under Secretary for Arms Control and International Security. The Board provides its recommendations directly to the Secretary of State. The Board currently has 18 members and is chartered to have up to 25. Board members are national security experts with scientific, military, diplomatic, and political backgrounds. The Board meets in a plenary session on a quarterly basis.

Wolfowitz: "Peace is the most important blessing. It is so much better than oil. Oil is more often a curse. Peace is unmitigated good."

April 12 (Bloomberg) --- World Bank President Paul Wolfowitz apologized for his role in the promotion of a woman with whom he was romantically involved as the international finance agency's employees demanded he quit.

Wolfowitz told a press conference in Washington today that he's prepared to accept whatever "remedies" the bank's board proposes. He later addressed the group's Staff Association in the atrium of the bank's headquarters, where colleagues shouted "resign, resign."
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"I made a mistake, for which I am sorry," he said at the press conference. He also acknowledged the need to reorganize his personal office, where aides have been criticized for a lack of expertise in development aid and for ties to the Republican Party.

The Staff Association, which represents about 13,000 World Bank employees, hasn't called for the resignation of a president before, according to Alison Cave, who heads the group.
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The Bush administration, which nominated Wolfowitz for the job, has "full confidence" in the World Bank president, said Deputy White House Press Secretary Tony Fratto.
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Riza's promotion came with a pay increase that was more than double the amount allowed by staff rules, according to Cave. She later received an annual increase of 7.5 percent, also larger than rules allow.