The principle underlying trends in Bank education projects is that strengthening the private sector's role in noncompulsory education over time will release public resources for the compulsory (primary) level. The public and private sectors have complementary roles to play

IBRD and IDA lending commitments appear to reflect variations in borrowing countries' need for external financing to meet debt service commitments. This is true during financial crises and more tranquil times, suggesting that aid may be more fungible than previously believed

Market placements by future receivables can allow public and private sector entities in a developing country to escape the sovereign credit ceiling and raise lower-cost financing from international capital markets. If planned and executied ahead of time, such transactions can sustain external...