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Another 400 Million Euros May ‘Disappear’ in Ukraine

© Sputnik / Andrey Stenin / Go to the mediabankRally to support Ukraine's integration with Europe on Independence Square, Kiev. (File photo)
Rally to support Ukraine's integration with Europe on Independence Square, Kiev. (File photo) - Sputnik International
The EU is planning to transfer another 400 million euros to Ukraine to restore the country's infrastructure. Next week, Ukraine will sign a corresponding loan agreement with the European Investment Bank, DWN wrote.

Ukraine and the European Investment Bank EIB are planning to sign a new loan agreement on July 23, Ukrainian Deputy Minister of Regional Development Roman Tschuprinenko stated at a briefing.

"The agreement deals with the development of municipal infrastructure. The funds can be used for drainage, water supply, heat supply, street lighting and the energy efficiency of buildings," Tschuprinenko said, cited by Ukrinform.

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According to DWN, it is completely unclear how the use of the funds will be controlled. Moreover, the EU has troubles with its own member states, such as Bulgaria and Romania, where Brussels’ subsidies have contributed to flourishing organized crime.

The main problem of Ukraine is corruption. It is highly questionable whether the money of European taxpayers and IMF loans are in good hands. Ukrainian Finance Minister Natalia Jaresko has already played a dubious role in the management of US taxpayers' money: private funds, which she was in charge of, recorded huge inflows while funds financed by American taxpayers' money were constantly reducing, DWN wrote.

The money of European taxpayers may suffer the same fate. It may just ‘disappear’ without any concrete evidence of how and where it was spent.

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