India Urges ADB to Halt Funding to Pakistan Amid Terror Concerns

Finance Minister Nirmala Sitharaman urged the Asian Development Bank to cease funding Pakistan due to its ties to terror activities during a meeting with ADB President Masato Kanda in Milan. Sitharaman also highlighted India's efforts in fostering private sector growth, seeking support for innovative financing models.

Finance Minister Nirmala Sitharaman has called on the Asian Development Bank (ADB) to halt funding to Pakistan, citing the nation's support for terror activities. The plea was made in a bilateral meeting with ADB President Masato Kanda in Milan, according to sources.

India, striving to diplomatically isolate Pakistan, has repeatedly urged global financial institutions to reassess their assistance to Pakistan, especially after the deadly terror attack in Pahalgam last month, which claimed 26 lives. The attackers included three Pakistani nationals, authorities said.

As of the end of 2024, ADB has committed USD 43.4 billion to Pakistan. The current portfolio includes 53 loans and 3 grants. During the meeting, Sitharaman also underlined India's private sector-led growth strategies, inviting ADB to explore new financing opportunities in the country.

(With inputs from agencies.)