IFC Commits $400 Million to Reko Diq Project

Islamabad: The International Finance Corporation (IFC) has pledged $400 million in financial assistance for the Reko Diq project, marking a significant investment in one of Pakistan’s largest copper and gold ventures. This commitment boosts IFC’s total investment in the project to $700 million.

According to Radio Pakistan, the financing package is expected to attract additional contributions from other financiers, including the U.S. EXIM Bank, the Asian Development Bank, Japan, and Canada. The Reko Diq project is projected to generate substantial revenue of up to $74 billion over a span of 37 years.

IFC Managing Director Makhtar Diop highlighted the project’s impact, stating that production is slated to begin in 2028. Diop emphasized that Reko Diq, Pakistan’s largest copper and gold project, will enhance foreign investment in the country and create vast employment opportunities in the Balochistan region.