Russia to double its aid to developing world

By 2011, Russia will double its aid to developing countries, bringing it to between $400 billion and $500 billion, Deputy Finance Minister Dmitry Pankin told reporters. Russia’s assistance in 2007-2008 is estimated at $210-220 billion, up from $50-60 billion in 2003-2005.

“These are reasonable figures, and they will not be a huge burden for the Russian budget, nor will they have any significant impact on the country’s financial situation,” Pankin stressed, noting that Russia’s help to the developing world was part of its ambition to strengthen its position in the global economy.

“If we want Russia to have a real say in the international financial arena, we have to pay for that,” Pankin explained. All countries with such ambitions provide financial support to developing nations, and “they will not understand us if we do not,” Pankin emphasized.

Russia’s international help efforts focus on fighting infectious diseases, energy poverty, and promoting education, according to Pankin.

Articles by: Global Research

Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected] contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the copyright owner.

For media inquiries: [email protected]