India to ask global multilateral agencies to review loans, grants to Pak: source

India will be asking global multilateral agencies, including the IMF, to have a relook at funds and loans provided to Pakistan, as New Delhi seeks to corner the neighbouring state diplomatically following the tragic terrorist last month which killed 26 tourists.

"We will be asking all multilateral agencies to review the loans and support to Pakistan," a government source said.

Authorities have identified five terrorists — including three — behind the massacre in Pahalgam.

Defence minister Rajnath Singh on Thursday termed Pakistan a rogue state that has been fuelling global terrorism. Meanwhile, home minister Amit Shah said the terrorists who carried out the "cowardly" Pahalgam terror attack would not be spared.

The IMF executive board is scheduled to meet Pakistan officials on 9 May for a first review of the extended funding facility, and request for an arrangement under the resilience and sustainability facility.

The IMF Board will evaluate a fresh USD 1.3 billion arrangement for Pakistan under its climate resilience loan programme. It will also assess an ongoing USD 7 billion bailout package.

As of 31 December 2024, the Asian Development Bank (ADB) has committed 764 public sector loans, grants, and technical assistance totalling USD 43.4 billion to Pakistan. ADB’s current sovereign portfolio in Pakistan includes 53 loans and three grants worth USD 9.13 billion.

ADB committed a USD 320 million loan for the Khyber Pakhtunkhwa Rural Roads Development Project to upgrade around 900 km of flood-susceptible rural roads in the province.

In January 2025, the World Bank approved a USD 20 billion lending package to Pakistan for the cash-strapped country to overcome its challenges.