The concept of development has evolved from an exclusive focus on economic growth towards an interrelated, even integrated approach involving progress across a range of disciplines such as health, education, economics and agriculture. The Millennium Development Goals (MDGs) are rooted in this evolved conception of development. A concerted global effort embracing multiple disciplines in the formal and informal sectors is now essential for their achievement. This paper traces the changing meaning of development, while at the same time tracing the benefits of investing in education for poverty reduction, and the conditions that facilitate and/or hamper education's contribution to poverty reduction. (Contains 1 table.)