The International Finance Corporation (IFC) has announced an additional $400 million investment in Pakistan’s Reko Diq mining project, bringing its total contribution to $700 million. This move marks a significant step in supporting Pakistan’s economic revival and attracting foreign investment.
Situated in Balochistan, the Reko Diq project is one of the largest undeveloped copper and gold deposits globally, with an estimated cost of $6.6 billion. It is expected to yield up to $74 billion in revenue over the next 37 years through a blend of equity and debt financing.
Several international financial institutions—including the US EXIM Bank, the Asian Development Bank (ADB), and lenders from Japan and Canada—are expected to join the funding consortium.
IFC Managing Director Makhtar Diop stated that the corporation aims to scale up its engagement in Pakistan’s infrastructure, energy, and natural resources sectors. “We plan to double our investments in Pakistan’s energy and natural resources sector,” Diop affirmed.
Highlighting Reko Diq’s importance, Diop noted that the project is poised to begin production by 2028. Beyond its economic promise, it will drive development in Balochistan by creating employment opportunities and improving infrastructure.
He also emphasized the project’s potential to enhance Pakistan’s appeal as a destination for foreign direct investment and its standing in the global minerals market.
Reko Diq is viewed as a cornerstone of Pakistan’s mineral strategy and a critical driver of long-term growth. Its development could reshape the country’s economic landscape by unlocking vast natural resource potential and attracting sustained global investment.
