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Cooperating Through Competition: EU Challenge and Support to the World Bank Focality in Multilateral Development Finance

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  • Eugenia Baroncelli

Abstract

Building on previous research on the relations between the European Union (EU) and the World Bank, this paper contributes to the debate on the World Bank focality in the regime complex for multilateral development finance. Adopting a historical‐institutionalist perspective, the analysis focuses on the determinants and mechanisms of micro‐institutional changes that have occurred in the context of EU‐World Bank's interaction in non‐core lending, particularly in World Bank trust funds and EU blending facilities. Most of the existing literature has focused on the ascendancy of new regional development banks outside the Bretton Woods camp, qualifying it as mostly conflicting or mostly cooperative. In contrast, this paper contends that a challenge has arisen also from within the group of core Bretton Woods‐inspired institutions. In addition, it shows how the EU has both competed and cooperated with the World Bank in the area of fiduciary funding, across three broad phases, and in response to specific critical junctures and tipping points. The EU’s innovation and quest for leadership in blended finance has replicated the World Bank’s good practices on some counts, yet it has also challenged its focality in non‐core lending.

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  • Eugenia Baroncelli, 2021. "Cooperating Through Competition: EU Challenge and Support to the World Bank Focality in Multilateral Development Finance," Global Policy, London School of Economics and Political Science, vol. 12(S4), pages 80-89, May.
    • Handle: RePEc:bla:glopol:v:12:y:2021:i:s4:p:80-89
    DOI: 10.1111/1758-5899.12916
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    1. World Bank, 2019. "The World Bank Annual Report 2019 [Rapport annuel 2019 de la Banque mondiale]," World Bank Publications - Books, The World Bank Group, number 32333, December.
    2. Vera Z. Eichenauer & Stephen Knack, 2018. "Poverty and Policy Selectivity of World Bank Trust Funds," Journal of International Development, John Wiley & Sons, Ltd., vol. 30(4), pages 707-712, May.
    3. Urpelainen, Johannes & Van de Graaf, Thijs, 2015. "Your Place or Mine? Institutional Capture and the Creation of Overlapping International Institutions," British Journal of Political Science, Cambridge University Press, vol. 45(4), pages 799-827, October.
    4. Miles Kahler, 2017. "Regional Challenges to Global Governance," Global Policy, London School of Economics and Political Science, vol. 8(1), pages 97-100, February.
    5. Eugénia C. Heldt & Henning Schmidtke, 2019. "Explaining coherence in international regime complexes: How the World Bank shapes the field of multilateral development finance," Review of International Political Economy, Taylor & Francis Journals, vol. 26(6), pages 1160-1186, November.
    6. Hongying Wang, 2017. "New Multilateral Development Banks: Opportunities and Challenges for Global Governance," Global Policy, London School of Economics and Political Science, vol. 8(1), pages 113-118, February.
    7. Martin Ravallion, 2016. "The World Bank: Why It Is Still Needed and Why It Still Disappoints," Journal of Economic Perspectives, American Economic Association, vol. 30(1), pages 77-94, Winter.
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    Cited by:

    1. Eugenia Baroncelli, 2023. "Implementing the Humanitarian‐development‐peace nexus in a post‐pandemic world: Multilateral cooperation and the challenge of inter‐organisational dialogue," Global Policy, London School of Economics and Political Science, vol. 14(S2), pages 22-28, March.

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