Pak gets $800 million from Asian Development Bank despite India's objections 
Geo-Politics / अंतरराष्ट्रीय

Pak gets $800 million from Asian Development Bank despite India's objections

The development comes a month after Pakistan secured a $1 billion (around Rs 8,500 crore) package from the International Monetary Fund (IMF).

JJ News Desk

The Asian Development Bank (ADB) approved a USD 800 million bailout package for Pakistan despite India's vehement objections to any form of aid to the neighbouring country over its history of terror financing. The development comes a month after Pakistan secured a $1 billion (around Rs 8,500 crore) package from the International Monetary Fund (IMF).

Government sources told India Today that India had firmly objected to the Asian Development Bank (ADB) offering any financial aid to Pakistan, citing serious concerns about misuse.

India also highlighted Pakistan's economic fragility, with tax revenue dropping significantly from 13% of GDP in 2018 to just 9.2% in 2023 and the rise in its defence spending.

India fears that loans from ADB and other international lenders might be diverted toward military expenses instead of development.

Source: India Today

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