The literature on governance has recently witnessed a growing tension between a techno-managerial account of governance and a powersensitive approach. This article argues that the downgrading of power relations by the techno-managerial approach is significantly problematic and counterproductive. Building on the case of the Euro-Mediterranean Development Bank, the article shows how the EU’s articulation of the techno-managerial approach has had serious negative implications. On the one hand, it re-emphasised the embedded long-term power asymmetries that have characterised the EU’s general governance attitude relationship with its Mediterranean partners. On the other hand, it compromised the credibility of EU policies in addressing and pressing for further reforms in the Mediterranean region.