Memo

Memo to the commissioners responsible for international partnerships and reform of the multilateral development banks

Publishing date
04 September 2024
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The European Commission has revamped its strategy toward developing countries, with better coordination of European Union donors (‘Team Europe’), blending of aid with private finance, less paternalism, better branding and an emphasis of financing physical infrastructure (the Global Gateway). These changes are welcome but bring risks: inability to deliver on promised financing volumes, potential conflict with the Sustainable Development Goals, and tensions with emerging and developing economies, which accuse the EU of double standards. To address these risks, you should recommit to the SDGs as the primary objective of the Global Gateway, embed infrastructure investment in a comprehensive development strategy, create a separate instrument to fund international emissions mitigation and ensure it is amply resourced, create an institutional mechanism to coordinate Team Europe, seek member state coordination and consolidation of seats on the boards of multilateral development banks (MDBs), and use this to leverage MDB reform and operations through country climate platforms.

Key actions:

  • Maximise the impact of the Global Gateway
  • Defuse tensions with emerging and developing partners

  • Improve coordination internally and externally

Read the full memo by clicking the download button at the top of this page.

About the authors

  • Heather Grabbe

    Heather Grabbe is a Senior fellow at Bruegel, as well as visiting professor at University College London and KU Leuven. The focus of her research is the political economy of the European Green Deal and how the climate transition will change the EU’s international relationships and external policies.

    She is a political scientist who has served as director of the Open Society European Policy Institute in Brussels, and earlier as deputy director of the Centre for European Reform in London. She conducted academic research at the European University Institute, Chatham House, Oxford and Birmingham universities, as well as teaching at the London School of Economics. From 2004 to 2009 Heather was senior advisor to then European Commissioner Olli Rehn, responsible in his Cabinet for policy on the Balkans and Turkey. She has written extensively on the political economy of EU enlargement, the EU’s external and neighbourhood policies, and the evolution of new policy agendas in climate, digital and the rule of law. Her columns appear in the Financial Times, Politico and other quality media.

    Heather earned her PhD at Birmingham University, and her first degree in politics, philosophy and economics at Oxford University, where she also had a post-doctoral fellowship. She is fluent in English, French and Italian, with working level German.

  • Hans Peter Lankes

    Hans Peter Lankes has been the EBRD’s Acting Chief Economist since January 2015 and Managing Director, Corporate Strategy and member of the Bank’s Executive Committee since May 2011. In these functions he has supervised preparation of the Bank’s research programme, economic forecasts and the 2015/16 Transition Report, and is responsible for the design of the Bank’s general strategy and headline initiatives.

    In 2012 and 2013 he served as Acting Vice President (Policy) with the task of reorganizing the Vice Presidency into the Bank’s hub for the in-country delivery of policy and reforms and for partnerships.

    Mr Lankes held several earlier roles since joining the EBRD in 2007. Prior to that, Mr Lankes worked at the International Monetary Fund in Washington, D.C., where he was Chief of the Trade Division and Adviser in the Policy Development and Review Department.

    Mr Lankes's earlier career saw him at the Central American Business School, the Nicaraguan Ministry of Economy and the German-Thai Chamber of Commerce before a first period of employment at the EBRD between 1993 and 2000.

    Mr Lankes is a German National. He holds economics degrees from Université de Grenoble and Albert Ludwigs Universität Freiburg and an MPA and PhD from Harvard University.

  • Jeromin Zettelmeyer

    Jeromin Zettelmeyer has been Director of Bruegel since September 2022. Born in Madrid in 1964, Jeromin was previously a Deputy Director of the Strategy and Policy Review Department of the International Monetary Fund (IMF). Prior to that, he was Dennis Weatherstone Senior Fellow (2019) and Senior Fellow (2016-19) at the Peterson Institute for International Economics, Director-General for Economic Policy at the German Federal Ministry for Economic Affairs and Energy (2014-16); Director of Research and Deputy Chief Economist at the European Bank for Reconstruction and Development (2008-2014), and an IMF staff member, where he worked in the Research, Western Hemisphere, and European II Departments (1994-2008).

    Jeromin holds a Ph.D. in economics from MIT (1995) and an economics degree from the University of Bonn (1990). He is a Research Fellow in the International Macroeconomics Programme of the Centre for Economic Policy Research (CEPR), and a member of the CEPR’s Research and Policy Network on European economic architecture, which he helped found. He is also a member of CESIfo. He has published widely on topics including financial crises, sovereign debt, economic growth, transition to market, and Europe’s monetary union. His recent research interests include EMU economic architecture, sovereign debt, debt and climate, and the return of economic nationalism in advanced and emerging market countries.    

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