The Ministry of Finance of the Union and Asian Development Bank rejected media report reports that claimed that Finance Minister Nirmala Sitharaman demanded a reduction in funds to Pakistan with increasing tensions with India after the terrorist attack Pahalgam.
“It is explained that this message is incorrect and in fact has no foundation,” the Ministry said in a statement on X.
Previously, several media houses said that Sitharaman clustered from the Asian Development Bank President Masato Kanda stopping funds to Pakistan. The news also suggests that she submitted the same request to her Italian counterpart Giancarlo Giorgetti.
The news suggests that Sitharaman has applied for sidelines 58.
They came in the middle of the tension escalation between India and Pakistan when the new Delhi tries to bite the neighboring state diplomatically and on various international forums after a nasty terrorist attack in Pahalgam last month, which killed 26 tourists.
India behind the attack quoted “cross -border ties”. Pakistan denied any involvement.
Adb refutes the claim
In its statement issued later in the evening, the Asian Development Bank stated that the reports were incorrect and were not discussed in Indian Pakistani problems at the meeting with Sitharaman.
“The Asian Development Bank (ADB) is aware of media reports that they claim that during a bilateral meeting between President Adb Masato Kanda and Indian Finance Minister Nirmala Sitharaman in Milan,” she said in Italy, “she said.
“These media reports are incorrect. Pakistan -related problems have not been discussed during a bilateral meeting.”
Financial aids for Pakistan
As of December 31, 2024, the ADB committed 764 public sector loans, grants and technical assistance totaling $ 43.4 billion. The current ADB portfolio in Pakistan includes 53 loans and 3 grants worth $ 9.13 billion.
According to the UN Development Program website, Italian development cooperation is an essential partner of UNDP in Pakistan and worldwide. “Some of the main Italian initiatives and posts are in Pakistan,” Undp read.
Nirmala Sitharaman in Milan
Nirmala Sitharaman is in Milan to attend the 58.
During a bilateral meeting with President Adb Sithaman, he reiterated that India focused on economic growth led by the private sector and constantly creates a favorable policy and regulatory ecosystem through courageous initiatives such as payment and decline law and implementation of GST.
Sitharaman stressed that India offers ADB opportunities for piloting new innovative financial products and models, he said.
Kanda expressed full support of ADB to India’s development priorities, led by the vision of Prime Minister Narendra Modi on Viksit Bharat 2047, she said.
(Tagstotranslate) Ministry of Finance
