Loans to ask global agencies including IMF, World Bank in India, grant to Pakistan: Report: Report
New Delhi: India has designed to urge global multilateral agencies including the International Monetary Fund (IMF) and the World Bank, which is to review financial aid to Pakistan after the recent terror attack in Pahalgam of J&K, claiming the lives of 26 citizens.
A government source told news agency PTI, “We will ask all multilateral agencies to review loans and support to Pakistan.”
Investigators have identified three militants, including three Pakistani citizens, who are responsible for the massacre.
Defense Minister Rajnath Singh has also called Pakistan a “evil state” which promotes global terrorism. Echoing Bhavna, Home Minister Amit Shah vowed that the criminals of the “coward” Pahalgam attack would be brought for justice.
The diplomatic move comes ahead of the meeting of a major IMF Executive Board on 9 May, where Pakistan officials are scheduled to discuss their expanded fund facility and to discuss a request under flexibility and stability facility. The board will also evaluate a fresh $ 1.3 billion climate flexibility loan and will continue reviewing the bailout package of $ 7 billion.
Apart from IMF, India is also expected to raise concerns with the Asian Development Bank (ADB) and the World Bank.
By December 31, 2024, ADB committed $ 43.4 billion to Pakistan through 764 loans, grants and technical assistance initiatives. Its current sovereign portfolio includes 53 loans and three grants $ 9.13 billion, including a $ 320 million loan for rural road development in Khyber Pakhtunkhwa.
In January 2025, the World Bank approved a $ 20 billion aid package for Pakistan, aims to help the country to remove economic challenges.
