The European Court of Auditors (ECA) has published an alarming report on the Recovery and Resilience Facility (RRF). “It is unclear who is benefiting from the loans. It is also unknown how the borrowed funds are being spent in individual countries, how much money is being spent, and what the actual effects of the €577 billion involved are,” noted Law and Justice (PiS) MEP Bogdan Rzońca.
Bogdan Rzońca, a Member of the European Parliament representing Law and Justice (PiS), pointed to the European Court of Auditors’ report on the Recovery and Resilience Facility (RRF), which was established in response to the coronavirus pandemic.
As it turns out, it remains unclear who is benefiting from the loans. It is also unknown what the borrowed funds are being spent on in individual countries, how much money is being disbursed, and what the outcomes of the €577 billion allocated under the mechanism actually are, because the system evaluates outputs rather than results.
Confederation MEP Ewa Zajączkowska-Hernik also commented on the issue on social media.
“The European Court of Auditors is warning about major loopholes and a severe lack of transparency in the spending of funds from the recovery facility. The EU’s auditing body believes that the mechanisms used to distribute European taxpayers’ money were so unclear that it is difficult to determine who ultimately received the funds,”
Zajączkowska-Hernik stressed.
As the Confederation MEP emphasized, “It is an absolute scandal that the European Commission designed a mechanism so fundamentally flawed that we have no idea where billions of euros belonging to all of us have ended up.”