This paper focuses on the relationship between the World Bank's education policy and the recent anti-poverty priorities and strategies that shape the present Bank's agenda for development. The paper provides a critical assessment of the explicit strategies of the World Bank's education policies aimed at fighting poverty by identifying the contradictions embedded in anti-poverty discourses and strategies, and relating them to an education policy that generates inequalities and shows little effectiveness in helping people to escape from poverty. This analysis is applied to the situation of Latin American education systems, which have, during the last decade, experienced an important expansion but have also maintained strong inequalities in educational performance and access to post-compulsory education.