Russia boosts lending to India, Bangladesh, other friendly nations

Jump in funding amid geopolitical tug of war with West may come at domestic cost

20241223N Putin Modi

Russian President Vladimir Putin, right, shakes hands with Indian Prime Minister Narendra Modi. India is among the top borrowers from Russia. © Reuters

Nikkei staff writers

TOKYO -- Russia is budgeting around 60% more for foreign financing next year than it did in 2021 -- before its invasion of Ukraine -- in an apparent bid to gain an edge in the competition for influence in regions such as the Middle East, Africa and South Asia.

But as Russia's financing push to maintain its global influence is already seeing some loans go bad, Moscow could see growing dissatisfaction at home.

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