Table 1 History of education sector operational policies of the World Bank

Year Document Remarks
1945 Bank operations start
1963 First Education loan
1967 Prof. Blaug’s White Paper Recommends the rate of return approach to justify Bank education lending projects
1970 President’s second memo on education policy
1972 Education Sector Policy Statement
1974 Education Sector Working Paper Includes Bank education sector lending policy and programs
1990 Primary education policy paper
1991 VOCED policy paper
1999 Education sector strategy
Source: Pasacharopoulos G. (2006); World Bank (1974).