Notwithstanding India’s strong opposition to any kind of assistance to the neighbouring nation due to its history of sponsoring terrorism, the Asian Development Bank (ADB) authorised a USD 800 million rescue plan for Pakistan. This comes one month after Pakistan received a $1 billion package from the International Monetary Fund (IMF), which is equivalent to about Rs 8,500 crore.
India has strongly opposed the Asian Development Bank (ADB) providing any financial assistance to Pakistan, according to government sources who spoke to India Today, expressing grave fears about abuse.
India also emphasised Pakistan’s economic vulnerability, pointing out that its defence spending has increased and that its tax collection has fallen sharply from 13% of GDP in 2018 to just 9.2% in 2023.
India is concerned that funds from the Asian Development Bank (ADB) and other foreign lenders may be used for military spending rather than development.
