Donors to Russia: Who's in and who's out?

A view of Moscow at night. Between 1995 and 2004, foreign assistance to Russia averaged $1.3 billion, making the country one of the biggest aid recipients in the world. Photo by: Dmytro / CC BY-NC-ND

Following the collapse of the former Soviet Union, Western donors pumped billions of dollars in aid money to Russia — part and parcel of their efforts to prop up their former Cold War rival’s fragile transition to a free market economy. Between 1995 and 2004, foreign assistance to Russia averaged $1.3 billion, making the country one of the biggest aid recipients in the world.

In the 2000s, however, aid flows to Russia began to fall dramatically just as the once superpower, buoyed by rising oil and gas revenues, regained some measure of political and economic clout. The Russian government’s increasingly dismissive posture toward the West and creeping authoritarian tendencies under President Vladimir Putin only hastened the donor exit.

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About the author

  • Piccio

    Lorenzo Piccio

    Lorenzo is a contributing analyst for Devex. Previously Devex's senior analyst for development finance in Manila, he is currently an MA candidate in international economics and international development at the Johns Hopkins School of Advanced International Studies in Washington. Lorenzo holds a bachelor's degree in government and social studies from Wesleyan University.