Based on detailed analysis of thousands of confidential World Bank documents, this book demonstrates that the World Bank lies at the centre of the major changes in global education of our time. It outlines the evolution of World Bank lending policies in education, and assesses the policy impact of the Bank's educational projects, looking at how it has: shaped the economic and social policies of many governments, including policies that affect education been an influential proponent of the rapid expansion of formal education systems around the world, financing much of that expansion been instrumental in forging those policies that see education as a precursor to modernisation served as a major purveyor of Western ideas about how education and the economy are, or should be, related. Following on from the success of the first edition, this revised edition covers topical issues of globalisation and looks into the political debate concerning aid to developing countries. It will be of enormous value to those studying, or working in, educational policy in developing countries, international organisations and financial institutions, and aid agencies.