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Pressures rippling through the universe of overseas development aid over the last fifteen years are transforming overseas development aid from a top-down, government-only endeavor into a multi-layered, multi-party endeavor which engages governments and citizens at every level.In addition, aid priorities now reflect the reality that global problems (such as climate change and HIV/AIDS) need serious attention and that developing countries need grant finance to address these problems and other problems that stem from abject poverty.For the reasons described in this Article, these changes have made overseas development aid heavily dependent on grants channeled through the World Bank (referred to, throughout this article as "World Bank grants").This dependence poses challenges for an institution set up to provide loans, not grants, and accustomed to thinking of a grant as a form of gentleman's agreement rather than a binding commitment which may range from hundreds of dollars to millions and which, whatever the amount, reflects a host of interests and voices that clamor to be heard.These challenges set the context for this Article's inquiry.This Article begins by describing the changes that recent trends in overseas development aid have wrought and the reasons those changes have placed the World Bank at center stage of development grant finance.It then focuses on the legal framework governing World Bank grants.Its key inquiry is the extent to which that framework facilitates and effectuates the goals and values that development grant finance aims to achieve.This Article is not about whether grants for development aid achieve their targets (for example a reduction of greenhouse gas emissions in a recipient country or in the number of AIDS-related deaths), an important question but one for another day.Rather, it is about whether such grants are negotiated, agreed to, and delivered in a
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