The Experts below are selected from a list of 84231 Experts worldwide ranked by ideXlab platform
Matthias Thiemann - One of the best experts on this subject based on the ideXlab platform.
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Extending loans and providing equity: the EIB and national Development Banks must act now
Social Europe, 2020Co-Authors: Matthias Thiemann, Peter VolberdingAbstract:The European Investment Bank and national Development Banks provide a framework through which a European Recovery Fund could work quickly and effectively.
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building a hidden investment state the european investment bank national Development Banks and european economic governance
Journal of European Public Policy, 2019Co-Authors: Daniel Mertens, Matthias ThiemannAbstract:The European Commission’s Investment Plan for Europe and the enduring economic crisis has brought state-owned Development Banks again to the fore of public and scholarly debate in Europe. This arti...
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Market-based but state-led: The role of public Development Banks in shaping market-based finance in the European Union
Competition and Change, 2018Co-Authors: Daniel Mertens, Matthias ThiemannAbstract:This paper examines the European Union’s strategy of governing the economy through financial markets by focusing on the largely unacknowledged role of public Development Banks, including the multilateral European Investment Bank. It argues that these state-owned financial institutions have moved into a key position in the recent evolution of the European financial system and economic governance. Since the crisis, policy makers have used them to address the intrinsic volatility and excess liquidity of contemporary financial markets, as well as offset the constraints on public investment imposed by institutionalized fiscal austerity. The paper provides evidence for this claim through an analysis of the emergent policy nexus between the Investment Plan for Europe and the Action Plan on Building a Capital Markets Union. Based on official documents and interview data, it specifically traces the risk-sharing devices for small- and medium-sized enterprise and infrastructure finance set up by Development Banks within these initiatives. Equipped with public guarantees, they have been instrumental for the promotion of securitization markets and public–private partnerships through increased multilevel collaborations among Development Banks. The anchor role of such quasi-fiscal state actors in shaping capital markets, the paper concludes, has profound political implications, and therefore warrants further scholarly attention.
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Building a hidden investment state? The European Investment Bank, national Development Banks and European economic governance
Journal of European Public Policy, 2018Co-Authors: Daniel Mertens, Matthias ThiemannAbstract:The European Commission’s Investment Plan for Europe and the enduring economic crisis has brought state-owned Development Banks again to the fore of public and scholarly debate in Europe. This article proposes to place these Banks’ activities and recent institutional co-operation in the context of European integration and assumes a historical perspective on European economic governance and Development banking. Most importantly, it argues that the European Investment Bank has become a centre of gravity in long-standing political attempts to increase the investment firepower of the European Union. Based on detailed process-tracing analysis through publicly available data and interview material, the article delineates a gradual process of institutional innovation and network formation that advanced since the late 1980s and culminated in recent post-crisis policy processes. The contemporary visibility of Development banking in Europe, we conclude, follows from these and is representative of a nucleus for a – somewhat hidden – European investment state, whose reach and stability, however, is yet to be determined.
Paul J. Nelson - One of the best experts on this subject based on the ideXlab platform.
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Multilateral Development Banks, transparency and corporate clients: ‘public–private partnerships’ and public access to information
Public Administration and Development, 2003Co-Authors: Paul J. NelsonAbstract:The multilateral Development Banks (MDB) recognise and promote transparency as a principle of good governance. Public release of information about policies and projects is a central aspect of this transparency, and the five MDBs studied here each adopted new policies during the 1990s to increase the accessibility of such information. The flow of information to local communities is important to the effectiveness of MDBs' social and environmental safeguards and to securing public support. But MDBs also embrace a second strategy, which sometimes conflicts with transparency: each MDB (or an affiliate) lends to private corporations as well as to member states and each bank modifies its information disclosure rules, giving corporate clients greater discretion than member governments. Environmental and social safeguards apply to corporate borrowers as well as to governments and there is a relatively high level of controversy over corporate projects' environmental and social impact. When subjected to a qualitative review of their disclosure standards, emphasising fullness of disclosure, accessibility of information, timeliness of information and availability of recourse, the disclosure policies of all five MDBs are clearly found to accommodate corporate confidentiality while compromising public demands for information. Copyright © 2003 John Wiley & Sons, Ltd.
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Transparency Mechanisms at the Multilateral Development Banks
World Development, 2001Co-Authors: Paul J. NelsonAbstract:Abstract The multilateral Development Banks (MDBs) adopted information disclosure policies in the 1990s, and four created mechanisms providing recourse for citizens affected by their activities. This paper proposes a set of four characteristics by which information disclosure policies may be compared and assessed, emphasizing the fullness and timeliness of disclosure, accessibility of information to citizens, and existence of recourse. The transparency and disclosure policies of the World Bank and regional Development Banks are found to vary in important details. Their policies have advanced the status of transparency in Development discourse and practice, and contributed to redefining the relationships among MDBs, states and citizens. At the same time they set limits that constrain information disclosure's significance in practice.
Lucila Serra - One of the best experts on this subject based on the ideXlab platform.
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The Role of National Development Banks in Catalyzing International Climate Finance: Empirical Evidences from Latin America
Handbook of Climate Change Adaptation, 2021Co-Authors: Chiara Trabacchi, José Juan Gomes Lorenzo, Barbara Buchner, Maria Netto, Diana Smallridge, Lucila SerraAbstract:Significant investments are needed to support the global transition to a low-carbon, climate-resilient future. Unlocking private capital at scale is essential to fill the current financing gap and achieve transformational impacts, but there are several barriers to overcome for this to happen.This study sought to analyze the role that national Development Banks (NDBs) could play to bridge the financing gap by scaling up private investment. Their knowledge and long-standing relationship with the local private sector places them in a privileged position to understand local barriers to investment as well as risks and opportunities.Drawing empirical evidence from NDBs’NDBSee National Development Banks experiences within the Latin American and the Caribbean (LAC) region, the study finds that while many NDBs are already piloting an array of financial and nonfinancial instruments to promote and leverage private low-carbon investments, these institutions are at diverse stages of “readiness” to fully promote climate-related programs. Several NDBs still need to build and/or strengthen capacity and acquire experience in the structuring, risk assessment, and monitoring of climate-relevant projects in order to take a more central role in the international climate finance landscape.
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The Role of National Development Banks in Catalyzing International Climate Finance
2013Co-Authors: Diana Smallridge, Barbara Buchner, Chiara Trabacchi, Maria Netto, Jose Juan Gomes Lorenzo, Lucila SerraAbstract:Significant investments are needed to support the global transition to a low-carbon, climate resilient future. Current finance flows fall short of global financing needs, and massive scaling up is needed to unlock additional financial resources and foster a sustainable investment pathway. Overcoming barriers to private sector investments is critical, and international climate finance can play a catalytic role in this regard. National Development Banks (NDBs) have a unique role in this context, both complementing and catalyzing private sector players. This publication discusses the unique role that NDBs could play in scaling up private financing for climate change mitigation projects through the intermediation of international and national public climate finance in their respective local credit markets and the conditions that would be needed for them to be most effective. It draws from experiences in international climate finance and best practices, processes, and products of NDBs within the Latin American and Caribbean region.
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the role of national Development Banks in intermediating international climate finance to scale up private sector investments
2012Co-Authors: Diana Smallridge, Chiara Trabacchi, Maria Netto, Jose Juan Gomes Lorenzo, Barbara K Buchner, Lucila SerraAbstract:Significant investments are needed to support the global transition to a low-carbon, climate resilient future. Current finance flows fall short of global financing needs, and massive scaling up is needed to unlock additional financial resources and foster a sustainable investment pathway. Overcoming barriers to private sector investments is critical, and international climate finance can play a catalytic role in this regard. National Development Banks (NDBs) have a unique role in this context, both complementing and catalyzing private sector players. NDBs have a privileged position in their local markets, strong knowledge of and long-standing relationships with the local private sector, a good understanding of local barriers to investment, and opportunities and vast experience in long-term investment financing. This paper discusses the unique role that NDBs could play in scaling up private financing for climate change mitigation projects through the intermediation of international and national public climate finance in their respective local credit markets and the conditions that would be needed for them to be most effective. It draws from experiences in international climate finance and best practices, processes, and products of NDBs within the Latin American and Caribbean region.
Daniel Mertens - One of the best experts on this subject based on the ideXlab platform.
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building a hidden investment state the european investment bank national Development Banks and european economic governance
Journal of European Public Policy, 2019Co-Authors: Daniel Mertens, Matthias ThiemannAbstract:The European Commission’s Investment Plan for Europe and the enduring economic crisis has brought state-owned Development Banks again to the fore of public and scholarly debate in Europe. This arti...
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Market-based but state-led: The role of public Development Banks in shaping market-based finance in the European Union
Competition and Change, 2018Co-Authors: Daniel Mertens, Matthias ThiemannAbstract:This paper examines the European Union’s strategy of governing the economy through financial markets by focusing on the largely unacknowledged role of public Development Banks, including the multilateral European Investment Bank. It argues that these state-owned financial institutions have moved into a key position in the recent evolution of the European financial system and economic governance. Since the crisis, policy makers have used them to address the intrinsic volatility and excess liquidity of contemporary financial markets, as well as offset the constraints on public investment imposed by institutionalized fiscal austerity. The paper provides evidence for this claim through an analysis of the emergent policy nexus between the Investment Plan for Europe and the Action Plan on Building a Capital Markets Union. Based on official documents and interview data, it specifically traces the risk-sharing devices for small- and medium-sized enterprise and infrastructure finance set up by Development Banks within these initiatives. Equipped with public guarantees, they have been instrumental for the promotion of securitization markets and public–private partnerships through increased multilevel collaborations among Development Banks. The anchor role of such quasi-fiscal state actors in shaping capital markets, the paper concludes, has profound political implications, and therefore warrants further scholarly attention.
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Building a hidden investment state? The European Investment Bank, national Development Banks and European economic governance
Journal of European Public Policy, 2018Co-Authors: Daniel Mertens, Matthias ThiemannAbstract:The European Commission’s Investment Plan for Europe and the enduring economic crisis has brought state-owned Development Banks again to the fore of public and scholarly debate in Europe. This article proposes to place these Banks’ activities and recent institutional co-operation in the context of European integration and assumes a historical perspective on European economic governance and Development banking. Most importantly, it argues that the European Investment Bank has become a centre of gravity in long-standing political attempts to increase the investment firepower of the European Union. Based on detailed process-tracing analysis through publicly available data and interview material, the article delineates a gradual process of institutional innovation and network formation that advanced since the late 1980s and culminated in recent post-crisis policy processes. The contemporary visibility of Development banking in Europe, we conclude, follows from these and is representative of a nucleus for a – somewhat hidden – European investment state, whose reach and stability, however, is yet to be determined.
Banco Africano De Desarrollo - One of the best experts on this subject based on the ideXlab platform.
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2016 Joint Report On Multilateral Development Banks' Climate Finance
2017Co-Authors: Banco Mundial, Banco Europeo Para La Reconstrucción Y El Desarrollo, Banco Africano De Desarrollo, Banco Europeu Para A Reconstrução E O DesenvolvimentoAbstract:The Joint Report on Multilateral Development Banks’ Climate Finance is a collaborative effort to make MDB climate finance figures in developing countries and emerging economies public on an annual basis, together with a clear explanation of the joint methodologies for tracking this climate finance. This 2016 edition was prepared by the European Bank for Reconstruction and Development, together with MDB partners the African Development Bank, the Asian Development Bank, the European Investment Bank, the Inter-American Development Bank Group and the World Bank Group.
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2015 Joint Report On Multilateral Development Banks' Climate Finance
2016Co-Authors: Banco Mundial, Banco Europeo Para La Reconstrucción Y El Desarrollo, Banco Africano De Desarrollo, Banque Européenne D'investissement, Banque Européenne Pour La Reconstruction Et Le Développement, Banco Europeo De Inversiones, Banque Interaméricaine De DéveloppementAbstract:This fifth edition of the Joint Multilateral Development Banks' Report on Climate Finance reports on financing committed by the African Development Bank (AfDB), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank Group (IDBG), and the World Bank Group (WBG), to climate change mitigation and adaptation projects and activities in 2015. This year's report was coordinated by ADB. The data and statistics presented in this year's report comply with the methodologies developed by the MDBs and applied uniformly to the MDBs' portfolios. In this report, the term "MDB climate finance" refers to the financial resources committed by MDBs to Development operations and components thereof, which deliver climate change mitigation and adaptation co-benefits in developing and emerging economies. Collectively, the MDBs committed USD 25,096 million in climate finance in 2015 -USD 20,072 million for mitigation finance and USD 5,024 million for adaptation finance. Since 2011, the MDBs have financed more than USD 131 billion in climate action in developing and emerging economies. The net total climate co-finance committed in 2015 alongside MDB resources was USD 55,749 million. When combined with the MDB climate finance, the total climate finance is USD 80,845 million, as shown in the figure below. This is the first edition of the Joint MDBs' Report on Climate Finance to include climate co-finance.
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2014 Joint Report on Multilateral Development Banks' Climate Finance
2015Co-Authors: Banco Mundial, Banco Europeo Para La Reconstrucción Y El Desarrollo, Banque Européenne D'investissement, Banque Européenne Pour La Reconstruction Et Le Développement, Corporación Financiera Internacional, Banco Europeo De Inversiones, Banque Interaméricaine De Développement, Banco Africano De DesarrolloAbstract:The Joint Report on MDB Climate Finance captures a particular context of activities that Multilateral Development Banks (MDBs) carry out in developing and emerging economies. The context is built on the premise that Development finance is being provided in a world shaped by climate change. This is the fourth year that MDBs have carried out joint reporting on climate finance. The report is based on the joint MDB approach for climate finance tracking and reporting, for which details are provided in Section 2. The MDBs have worked consistently to improve this joint approach and refine reporting. This year's report was coordinated by the World Bank Group and prepared by professional staff from the following MDBs: African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), and the International Finance Corporate (IFC) and World Bank (WB) from the World Bank Group (WBG)- all together referred in the report as the MDBs.