African Entrepreneurship Record Chapter 1024 - 33: Borrowing Money

March 7, 1903.

Capital of Russia, Saint Petersburg.

The East African ambassador to Tsarist Russia, Klo, is bidding farewell to the last batch of East African talents introduced in Saint Petersburg.

"Ladies and gentlen, this round of talent acquisition work in Russia is coming to an end. On behalf of the nation, I express my gratitude for your contributions. After all, living in Russia with its harsh climate conditions is sowhat of an ordeal."

"Ambassador Klo, you're too kind. We are all serving the nation and the people, and the worst conditions in Russia are still in the Far East region, but fortunately, we don't have many people over there. The results over the past two years have been most gratifying. We have recruited nearly a thousand talents, and once they settle in East Africa, they should greatly advance the developnt of various industries in East Africa. So our harvest is enormous."

Entering 1903, Russia has basically passed through the most challenging period of its economic crisis. Over the past two years, East Africa has introduced more than 1,200 highly educated or skilled professionals from Russia through various ans.

East Africa's total introduction of high-level talents worldwide in the past three years amounts to over 3,600 people, aning just one Russia accounts for a third of East Africa's talent intake.

Therefore, East Africa's talent acquisition in Tsarist Russia can be called relentless. Now, as the impact of Russia's economic crisis slowly diminishes, having drained Russia's potential, the East African Governnt has decided to withdraw early.

Klo: "Hmm, now our industrial construction is vigorously advancing, and the results of your work over the past two years have significantly helped our first five-year plan, delivering a large number of talents to various industries in East Africa. During the second five-year plan, I can't imagine what level our country's developnt will reach."

"Before I took office, various places across the country were engaged in agricultural and industrial construction. I reckon when you return ho, East Africa will be vastly different from two years ago."

Currently, the first five-year plan has been implented for nearly half a year, with various projects and factories landing in East Africa, greatly enhancing the industrial level of East African cities. This enhancent is visible to the naked eye, with each city constructing several sizable factories.

"Ambassador Klo, it's our honor. In contrast, Russia's developnt has been very difficult. The economy over the past three years has been severely constrained by the economic crisis, and social order is turbulent, with law and order collapsing severely. This visit to Russia has deeply made feel the difference between East Africa and Russia."

"On the streets of Moscow, there are thieves everywhere, many people have difficulty feeding themselves, and holess people don't survive the winter. The governnt is severely corrupt, with extrely low efficiency, and the country's industrial developnt is slow. Compared to Europe and Arica, and even East Africa, it's sowhat lacking. This is still in the relatively developed Moscow; I can hardly imagine other regions of Russia."

Ambassador Klo nodded and said, "This is normal. Russia's economy was already quite poor, and with the economic crisis, unemploynt is extrely serious, making it difficult for many to support their families. Coupled with harsh climate conditions, the issues you ntioned are very normal for Russia."

"However, these have nothing to do with us, East Africa. Each country has its own circumstances; developnt is limited by various conditions. Russia has rely not found a suitable path for its developnt. We don't need to worry about Russia, but rather focus on building our own industry better, as that is most important."

The person agreed and said, "Ambassador Klo, you're absolutely right. After all, we are not Russians."

"Mm, it's best to think this way. Next, I wish you a safe journey ho." Ambassador Klo said.

"Likewise, I wish you a pleasant work experience in Russia." The staff of the East African talent acquisition plan waved goodbye to Klo.

As they boarded the ship heading to Germany, this also signified the formal end of East Africa's talent acquisition plan in Russia this round.

However, Klo's work was clearly not over. Just returning to the East African Embassy in Saint Petersburg, he was greeted by a batch of new guests.

"Ambassador Klo, while you were at the dock seeing off, Russia's Count Cardel ca to visit."

Klo asked, "Where is he now?"

"In the reception room, presumably with urgent business seeking you, hence he did not leave, so we prepared tea for him."

Klo waved his hand and said, "I'll go over in a mont. You guys keep busy!"

...

Reception Room.

"Ambassador Klo, long ti no see!"

"Count Cardel, long ti no see!"

Klo is sowhat surprised by Count Cardel's arrival because a month ago, he was instructed by the country to pay attention to the movents of the Russian governnt, especially the interactions between Russian and East African diplomats.

Now, with Count Cardel coming to the door, there is clearly sothing up, after all, it's already four in the afternoon and Klo is almost about to finish for the day.

"Count Cardel, what brings you here?" Klo asked.

"Ambassador Klo, I'm here this ti representing His Majesty to discuss so important matters with East Africa." Count Cardel straightforwardly said.

Klo: "Count Cardel, you're not here to borrow money again, are you?"

From Ambassador Klo's words, it is clear that the Tsarist Russia governnt often did this sort of thing. In fact, during the economic crisis, Russia tried every way to borrow from other countries, with the largest lender being France, but Russia would also borrow from other Great Powers, including East Africa.

Since Ambassador Klo took office, Count Cardel has represented the Russian governnt in borrowing money from East Africa, so in so sense, Ambassador Klo and Count Cardel can be considered "old acquaintances."

Count Cardel, maintaining his composure, cheerfully said: "My friend, you understand well. Although our economic situation in Russia has improved sowhat, we still need more funds to stabilize social order, so this is why I've co."

"How much do you need this ti?" Klo asked.

"Of course, the more, the better." Count Cardel said.

Klo didn't imdiately refuse but continued, "Count Cardel, you know we in East Africa are pursuing industrial construction, so governnt expenditures are large, and the funds we can provide to your country might not be much. If it's a few million Rubles, that should be okay, but more than that..."

Count Cardel replied, "A few million Rubles is far from enough. Our governnt is financially strained, so we hope to secure at least an amount of twenty million."

Klo shook his head and said, "That's too much. The previous two tis we already provided over eight million Rubles in loans to Tsarist Russia, and asking for twenty million this ti is excessive!"

The East African Governnt is not very keen on lending to Russia, as the Russian governnt's credit is relatively low. Of course, the money isn't unobtainable; East Africa is quite wealthy, and its fiscal situation is rather sound. Ensuring national interests, not to ntion a few million Rubles, even billions wouldn't be undeliverable, but clearly, East Africa wouldn't do that.

Currently, to the East African Governnt, investing money into national industrial construction is more cost-effective than lending to Russia, as most of Russia's quality capital has already been seized by the French.

Count Cardel said, "Ambassador Klo, please don't rush to refuse. Our repaynt ability is definitely there. The economic crisis is over, and Russia's situation is improving, plus we have abundant resources suitable as collateral."

"I believe you need our Russian oil resources. East Africa has always been our largest oil consur, so we can use so of Baku's oilfield mining rights as collateral. What does Ambassador Klo think of this proposal?"