FM Sitharaman Seeking ADB to Reduce Funding for Pakistan 'Untrue', says Centre
The government of India has described as 'baseless and untrue' reports emanating on social media that Finance Minister Nirmala Sitharaman had pressured the Asian Development Bank (ADB) to slash funding for Pakistan. The reports said that during a meeting with ADB President Masato Kanda, Sitharaman requested that the bank curtail financial support to Pakistan. The Ministry of Finance clarified, however, that there was no such exchange.
A PIB Fact Check tweet on X (formerly Twitter) also refuted the allegations, calling them 'completely fake' and asking people to rely only on official government sources for reliable information. The statement clarified that India had not made any such appeal to the ADB against Pakistan.
During the meeting, ADB President Kanda expressed the bank's unwavering support for India’s development priorities, particularly aligned with Prime Minister Narendra Modi’s vision of a 'Viksit Bharat' (Developed India) by 2047. Sitharaman reaffirmed India’s focus on private sector-driven economic growth, highlighting key initiatives such as the Insolvency and Bankruptcy Code, Corporate Tax Rate Reduction, the Goods and Services Tax (GST), Production-Linked Incentives, the National Infrastructure Pipeline, the GatiShakti National Master Plan, and Startup India. These initiatives, she added, are directed towards making the regulatory and policy environment more business-friendly.
In addition, Sitharaman underscored India's commitment to providing opportunities for ADB to test new financing products and models to help finance the country's development objectives.
The Finance Minister also had a meeting with her Italian counterpart Giancarlo Giorgetti on the sidelines of the 58th ADB Annual Meeting and discussed measures to strengthen India-Italy economic cooperation and intensify cooperation on international and multilateral issues of common interest.
