American Taxpayers Are Subsidizing Cronyism in Eastern Europe

This is just one more example of why foreign aid is not a good thing. Foreign aid should not be confused with charity. Charity involves an individual, individuals or private organizations giving money to other individuals or private organizations they judge to be in need or otherwise deserving. Foreign aid involves one corrupt government taking money from its citizens to distribute to another corrupt government.

When governments have power to arbitrarily disburse large sums of money, that is a recipe for unsavory behavior. For all intents and purposes, the practice of cronyism is a prerequisite for corruption. The EBRD openly brags about the money it steers to private hands, so is it any surprise that people will engage in dodgy behavior in order to turn those public funds into private loot?

Source: American Taxpayers Are Subsidizing Cronyism in Eastern Europe - Foundation for Economic Education