In the past two decades, the World Bank's contributions to economic development in South Asia have been substantial, increasing significantly from previous years. Focusing on India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, and the Maldives, S. Guhan analyzes the Bank's project lending in South Asia from 1971 to 1990. He explores what the Bank attempted, achieved, and failed to achieve during those years. Guhan shows that the 1970s and 1980s were particularly active as the Bank experienced a phenomenal growth and diversification in project lending. This period may also be a watershed, he maintains, since the coming decades in South Asia are likely to see a slowing in the growth of overall lending levels and a shift toward nonproject, adjustment lending. Guhan sets out background information essential for understanding the development context in South Asia; discusses the important characteristics of project lending in the region; reviews lending strategies, the policy dialogue, and project impact on major sectors and borrowers; and puts together an overall assessment of the Bank's lending experience in the two decades. Looking ahead, he asserts that the coming years will be both lean and difficult for the Bank and its borrowers in South Asia.