 "New development bank")
Even as the International Monetary Fund (IMF) has kicked off its first review of a $7 billion bailout facility extended to Pakistan last year, India is set to red-flag Islamabad’s plan to invest nearly $600 million in the New Development Bank (NDB) set up by Brics nations when the loan’s second tranche is considered by the IMF board.
India has generally abstained from voting on loans sought by Pakistan in the IMF’s executive board meetings. However, in January 2024, when the board was reviewing an earlier $3 billion short-term Stand-By Arrangement (SBA) granted to Pakistan, India had urged the IMF
