Based on the author's over two decades of association with the World Bank, this paper reviews the institution's policies and practice on education. It describes why education policy, as revealed by operations, shifted dramatically since the early Bank projects on education and identifies the reasons for such a shift. The paper argues that the multi-agency Education for All initiative is unrealistic and unlikely to be reached in this century. Also, the paper discusses the Bank's lack of concrete policies and priorities, especially regarding the trade-off between primary and tertiary education.