New Delhi: The Union Ministry of Finance and the Asian Development Bank (ADB) have categorically denied media reports suggesting that Finance Minister Nirmala Sitharaman requested a halt to financial assistance for Pakistan during recent diplomatic engagements.
In an official post on X, the Ministry of Finance called the reports “incorrect” and “no basis in fact” asserting that no discussions were held with ADB officials regarding funding cuts to Pakistan. The Ministry clarified that the claims circulating in the media had no factual backing.
The denial follows reports that Sitharaman had urged ADB President Masatsugu Asakawa to reconsider Pakistan’s funding during a bilateral meeting on the sidelines of the 58th ADB Annual Meeting in Milan. Some reports also claimed that similar issues were raised with Italian Finance Minister Giancarlo Giorgetti.
The claims surfaced after the Pahalgam terror attack in April 2025, which killed 26 people. India has blamed Pakistan-based terror groups for the attack, citing cross-border involvement, a charge Pakistan has rejected.
Amid heightened tensions, speculation grew that India was leveraging international platforms to push for the financial isolation of Pakistan. However, both the Ministry and ADB have moved quickly to dispel such notions.
In a separate statement issued later in the day, ADB confirmed that the bilateral meeting between Sitharaman and President Asakawa did not touch upon any Pakistan-related matters.
“The Asian Development Bank (ADB) is aware of media reports claiming that issues related to Pakistan were discussed during the bilateral meeting. These media reports are incorrect,” it stated.
As per ADB data, the institution has committed $43.4 billion in public sector support to Pakistan as of December 31, 2024. Its current sovereign portfolio includes 53 loans and 3 grants amounting to $9.13 billion.
Italy, another country linked to the reports, continues to support various development programs in Pakistan through its cooperation with the United Nations Development Programme (UNDP).
The swift rebuttals from both the Finance Ministry and ADB have effectively dismissed the claims, aiming to prevent further misinformation amid a sensitive geopolitical backdrop.
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