World Bank President Paul Wolfowitz promised Friday to implement recommendations of the Bank's executive board over his scandal connecting the promotion and hefty pay increase to his girl friend.

"President Paul Wolfowitz welcomes the decision of the board to move forward and resolve this very important issue. He looks forward to implementing the recommendations of the Board," said a statement released by the World Bank.

The board, in a statement released in the early Friday, said it is "great concern" over the situation and requested the ad hoc group to consider the matter immediately.

The board, which convened on Thursday, also instructed the ad hoc group to deal with the matter with regard to bank rules and "conflict of interest, ethical, reputational and other relevant standards."

Wolfowitz has apologized for the promotion and pay rises for Shaha Riza, who was a close female friend of Wolfowitz and once a staff member in the bank.

Riza was removed to work with the U.S. State Department when Wolfowitz took over at the World Bank in 2005, to avoid any conflict of interest.

While still on the World Bank payroll when she worked for the U.S. State Department, Riza was rapidly promoted and ended up with a tax-free salary package of about 193,000 dollars, even more than Secretary of State Condoleezza Rice receives before tax.