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Latin American agency: The New Development Bank, Uruguay's accession and Brazilian influence

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  • Alvaro Mendez

Abstract

This study provides insight into the current evolution of the New Development Bank (NDB). It examines the role of the agency of the global South reshaping intergovernmental organizations (IGOs) in the case of Brazil's influence on the NDB to expand its membership. In that process, this article homes in on the admission of Uruguay to the NDB as a prospective member in September 2021, the first case of NDB expansion into Latin America and the Caribbean (LAC). The study shows that the membership negotiations between Montevideo and the Bank were less rigid and formal than the procedural norms of multilateral development banks (MDBs) of the North, thanks to the collaborative agency by the various LAC actors involved. It makes the case that Uruguay's accession to the NDB will produce numerous win‐win benefits for both the country and the Bank. It also argues that the membership will inspire the future accession of other countries in the LAC region to the Bank. The study adds to the scant literature which conceptualizes the mechanics of membership expansion by small or new IGOs. The piece also adds to existing studies investigating how LAC agency has previously shaped and continues to shape MDBs.

Suggested Citation

  • Alvaro Mendez, 2024. "Latin American agency: The New Development Bank, Uruguay's accession and Brazilian influence," Global Policy, London School of Economics and Political Science, vol. 15(2), pages 405-413, May.
    • Handle: RePEc:bla:glopol:v:15:y:2024:i:2:p:405-413
    DOI: 10.1111/1758-5899.13214
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    References listed on IDEAS

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    1. Alvaro Mendez & David Patrick Houghton, 2020. "Sustainable Banking: The Role of Multilateral Development Banks as Norm Entrepreneurs," Sustainability, MDPI, vol. 12(3), pages 1-21, January.
    2. Sergio Gusmão Suchodolski & Julien Marcel Demeulemeester, 2018. "The BRICS Coming of Age and the New Development Bank," Global Policy, London School of Economics and Political Science, vol. 9(4), pages 578-585, November.
    3. Humphrey, Chris & Michaelowa, Katharina, 2013. "Shopping for Development: Multilateral Lending, Shareholder Composition and Borrower Preferences," World Development, Elsevier, vol. 44(C), pages 142-155.
    4. Raelin, Joseph A., 2016. "Imagine there are no leaders: Reframing leadership as collaborative agency," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 12(2), pages 131-158.
    5. Hongying Wang, 2019. "The New Development Bank and the Asian Infrastructure Investment Bank: China's Ambiguous Approach to Global Financial Governance," Development and Change, International Institute of Social Studies, vol. 50(1), pages 221-244, January.
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