Discoursing development: the case of the European Investment Bank

Abstract

The European Investment Bank (EIB) has recently become a relevant development player; nevertheless, its theoretical competence to operate in developing countries has not been scrutinised. This paper aims, first, to reconstruct the development argument of EIB, i.e., to map how EIB claims its investments contribute to the economic development of developing countries. Second, we confront the reconstructed Bank's development discourse with development economics theories in an effort to identify its theoretical inspirations. Third, we apply Critical Discourse Analysis to identify EIB's discursive practices. The paper argues that EIB's development discourse is inspired predominantly by the Washington Consensus, that it is minimalist and underdeveloped, and that it uses discursive techniques to promote and perpetuate EIB's hegemonic and ideological positions. We conclude that, from a development economics perspective, EIB is theoretically limited and unqualified.

The Case for an IGAD Development Bank

“…51 51As even the experience of the European Central Bank (or the European Investment Bank for that matter) shows that even technocratic organisations are susceptible to political influences. Even if classical politicians don’t influence policy, vested interests do (Lesay, 2013; Monnet, Pagliari, & Vallee, 2014). In that way, no one charismatic leader or national party can usurp the supranational organisation for its own nationalistic ends.…”

Spatially blind policies? Analysing agglomeration economies and European Investment Bank funding in European neighbouring countries

“…Kollatz-Ahnen (2013) analyse the role of the EIB to foster growth inside the EU in the framework of the current crisis and efforts for recovery. Lesay (2013), relying on Critical Discourse Analysis, study the role of the EIB as a player in development efforts outside the EU. According to Langan (2014) EU-Africa ties through interventions by the EIB, although directed towards poverty reduction, serve more the commercial interests of Europe.…”