The rise of the European Enlargement State: blended finance, development banks and the new modalities of EU accession
The rise of the European Enlargement State: blended finance, development banks and the new modalities of EU accession
A newly published study examines how the European Union's approach to enlargement has transformed in the wake of Russia’s full-scale invasion of Ukraine. Titled "The Rise of the European Enlargement State: Blended Finance, Development Banks and the New Modalities of EU Accession", the study highlights a shift in EU strategy—now driven by large-scale investment programs aimed at mobilizing both public and private funds.
By tracing policy developments since 1999, the research reveals how the European Commission, through its Directorate-General for Enlargement and the Eastern Neighbourhood, has emerged as a central coordinator linking development banks, EU funding mechanisms, and the reform agendas of candidate countries. This new "Enlargement State" model relies heavily on blended finance tools, reshaping the dynamics of accession with a strong emphasis on bankability and investment readiness.
While this approach enhances the EU's influence in shaping reforms, the study also raises concerns about potential limitations in local development outcomes and the implications for Ukraine’s market integration.
Authors
- Matthias Thiemann - Full Professor of European Public Policy at Sciences Po
- Dan Mocanu - PhD candidate at the University of Oxford, UK
- Dora Piroska - Associate Professor at the Department of International Relations, Central European University, Vienna, Austria