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Foreign Aid
Traditionally a recipient of development aid, India has in recent years increased the aid it gives to other countries. According to annual reports by the foreign ministry, India's aid and loan programme provided $488 million (€370m) in the fiscal year 2009-10, down from $610m (€465m) the previous year.
Most of this aid goes to countries in India's immediate neighbourhood, such as Bhutan, Nepal and Sri Lanka. Afghanistan is a special case, with Indian pledges of $2 billion (€1.5bn) in a bid to counter Pakistan's influence. Aid to Bangladesh has a similar geopolitical dimension, with India extending a $1bn (€760m) credit line two years ago in the context of counter-terrorism co-operation.
However, India also has plans to increase its aid to Africa, and last year set up a foreign aid agency that is supposed to disburse $11.3bn (€8.6bn) in the coming five to seven years, including $5bn (€3.8bn) for Africa. India had pledged a similar amount in 2008 for infrastructure development in Africa, where it competes with China for business opportunities.
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