Overview
- The Indian Finance Ministry and the ADB issued official statements denying claims that Finance Minister Nirmala Sitharaman requested a halt to Pakistan's funding during the ADB's annual meeting in Milan.
- Media reports alleged Sitharaman raised the issue with ADB President Masato Kanda and Italian Finance Minister Giancarlo Giorgetti, but these claims were refuted as baseless.
- India has implemented other diplomatic measures against Pakistan, including freezing the Indus Waters Treaty, closing the Attari border, and canceling visas, following the April 22 Pahalgam terror attack that killed 26 people.
- India is reportedly lobbying for Pakistan's re-listing on the Financial Action Task Force grey list and reviewing multilateral funding flows to Pakistan, though no formal outcomes have been announced.
- The ADB confirmed its current sovereign portfolio in Pakistan includes 53 loans and 3 grants totaling $9.13 billion, with no changes discussed during the Milan meetings.