Education, Poverty and the World Bank

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This book explains why the World Bank's commitment to education is important. It considers how the nature of the Bank as a financial institution has shaped its view of economic growth, development and poverty reduction. In shaping its education policies and programs from a banking point of view, a particular World Bank approach to educational development has emerged, with major implications for the future of education worldwide. The book examines the reasons why the Bank is involved in education, the evolution of its education policy stances, and how the Bank uses education as part of its program of economic globalization. The author provides a framework for assessing the Bank's impact and effectiveness in its education lending, especially in terms of poverty reduction.Bank work in education is hugely controversial. All around the world, in industrial countries, in transition economies and in the poorest countries, the Bank continues to be under fire for its policy prescriptions and its modes of operation. From both left and right, the Bank is a major target of discontent. At the same time, the Bank is frequently misunderstood and misrepresented. The book is based on thousands of classified Bank documents examined over the past twenty years, and on wide-ranging interviews with past and present Bank officials. Although critical of many aspects of Bank work in education, the book will be recognized as a uniquely authoritative guide to Bank policy formation in education.