Environmentally Sustainable Development Studies and Monographs Series No. 19. Five years have passed since the United Nations Conference on Environment and Development, better known as the Rio Earth Summit. Almost all the countries of the world attended the conference and committed themselves to the policies and programs laid out in Agenda 21, the action plan of the summit. The World Bank and other international agencies have sought to be active partners in implementing the agenda. This report is part of the Bank's current efforts to review the progress made over the past five years and to make plans for improved effectiveness for the future. The paper is divided into two parts. Part I looks at the broad picture, assessing some of the large challenges for the future and outlining thematic principles. Part II provides concise reviews of the majority of the chapters of Agenda 21 and relates them to the standpoint of Bank activities.