Eyebrows rose when Robert McNamara announced that the World Bank was going to direct its activities toward reducing poverty. They should come down, according to this interesting volume, not because his successor will change things but because the poverty-focused lending integrates well with the Bank's more traditional work, which has also expanded greatly. Urban and rural projects are examined in some detail and there is criticism of aims and methods. But basically McNamara's Bank gets high marks in this thorough and carefully reasoned study, for which the author had good access to the Bank's staff and materials. Mr. Ayres was an International Affairs Fellow of the Council on Foreign Relations.