Research Handbook on the European Union and International Organizations
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Research Handbook on the European Union and International Organizations

Edited by Ramses A. Wessel and Jed Odermatt

Over the years, the European Union has developed relationships with other international institutions, mainly as a result of its increasingly active role as a global actor and the transfer of competences from the Member States to the EU. This book presents a comprehensive and critical assessment of the EU’s engagement with other international institutions, examining both the EU’s representation and cooperation as well as the influence of these bodies on the development of EU law and policy.
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Chapter 16: World Bank Group (IBRD), International Monetary Fund (IMF) and European Bank for Reconstruction and Development (EBRD)

Emanuel Castellarin

Abstract

Whereas the EU is a member of the EBRD, it is only allowed participation as a nonmember in most Bretton Woods institutions and does not have any participation status within ICSID. The EU’s participation in these institutions has not only an institutional and symbolic rationale, but also important policy implications for the EU’s Economic and Monetary Union, development cooperation policy and foreign investment policy. The lack of EU membership as such does not prevent the EU from being influential, directly or through its Member States, whenever it succeeds in a united representation. However, the European bloc’s potential for influence is not fully expressed, as shown by recent proposals to improve the EU’s representation at the IMF Board of Directors.

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