This first World Bank Knowledge Reportlaunches what is intended as a series of World BankKnowledge Reports. Although knowledge is a fundamental tothe Bank s overall mission, and informs all of the Bank sdevelopment activities, it has not received the same degreeof attention from management that has been accorded to itslending activities. By paying attention to knowledge work asa distinct service, the Bank and our stakeholders will beable to better understand the results of that work. Thiswill lead to better management of the knowledge productionprocess, more strategic partnerships with other knowledgeinstitutions, and greater operational and policy impact. Asthe first in the series, this report spends some timesurveying the horizon describing what kind of knowledgeactivities the World Bank undertakes and what its experiencewith this type of work has been.Consultations within theBank and with external reviewers and partnersduringpreparation of the report have enabled the institution tospeak more clearly about the full range of these activities,and how they are evolving in response to changing conditionsin the world and the changing demands of clients. In termsof the way forward, this first Knowledge Report makes somespecific recommendations for measuring results and openingmany of the Bank s processes to more external inputs.Thereport also identifies important issues that will becomepart of ongoing conversations, both within the Bank and withclients and external partners. This volume is a synthesis ofinputs from a variety of studies and units across the Bank.These are covered in significantly greater detail in aBackground Report, which may be of greatest interest to Bankstaff and managers who want a more in-depth understanding.