Etymology
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backing (n.)

1590s, "support at the back;" 1640s, "retreat;" verbal noun from back (v.). Physical sense of "anything placed at or attached to the back of something else" is from 1793. Meaning "musical accompaniment" is recorded from 1937.

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Definitions of backing

backing (n.)
the act of providing approval and support;
his vigorous backing of the conservatives got him in trouble with progressives
backing (n.)
something forming a back that is added for strengthening;
Synonyms: mount
backing (n.)
financial resources provided to make some project possible;
Synonyms: support / financial support / funding / financial backing
From wordnet.princeton.edu