Monday, January 18, 2016

UPDATES: EU To Review Spending Over Corruption

The European Union (EU) has been warned in a report that half of the money it gives out as aid is either stolen or mismanaged.

Mail Online reports that Ingeborg Graessle, a senior German member of European parliament called for a review of how
money was disbursed as corrupt officials were siphoning money sent to them.

‘Hundreds of thousands of people flee to Europe from countries where we are spending billions without any apparent effect.
‘Year after year, funds are committed to obscure projects in what is effectively throwing money down the toilet. We need an urgent revision of spending, independent scrutiny and a clear procedure to actually measure what we are achieving.’
Some of these cases include a £1.8million EU scheme for a solar panel installation that is not working, as well as £26.8million earmarked to combat corruption in Nigeria, which cannot be handed over because of fears it will be siphoned off by corrupt Nigerian officials.
The Union is reportedly the biggest donor of aids but it has been criticized for not monitoring and properly measuring the vast expenditure.

Countries that have recorded high migration to Europe have also been accused of mismanaging fund sent to them. They include Morocco – where aid projects cost the EU £508million, Jordan – where the EU contributes £248million – and Lebanon, where £198million is spent.
Graessle pointed accusing fingers at some embassies for ‘sugar-coating’ reports thereby deceiving the union to make it look like the projects were successful.