AbstractThis article relates how the World Bank makes reform decisions in a particular economic sector and country. It highlights some of the key issues pertaining to the privatization of livestock veterinary services in sub‐Saharan Africa, with a particular focus on Cameroun. Relating to the economics literature, it argues that veterinary services have both public and private good attributes. Therefore, any policy aimed at privatizing the entire spectrum of services without regard to their public good character is likely to result in significant market failures. With empirical evidence provided by Cameroun, the article also demonstrates that the ‘privatization project’ advocated most strongly by key international lending institutions does not enjoy much support among African policy makers. It also raises issues of implementation in policy environments fraught with bureaucratic indifference and resistance, as well as divisions within the lending community over policy direc