ISLAMABAD: The Export-Import Bank of the United States (EXIM Bank) has approved $1.25 billion in new financial assistance for Pakistan, marking a critical escalation in bilateral economic cooperation. The funding directly targets the Reko Diq mining project in Balochistan—one of Pakistan’s most significant mineral developments and a long-standing driver of foreign investment interest.
Strategic Investment in Reko Diq
EXIM’s financing centers on supporting the establishment and operation of the Reko Diq mine, a major copper and gold venture poised to reshape Balochistan’s economic landscape. U.S. Chargé d’Affaires Natalie Baker described the initiative as a “game-changer,” noting that the investment will deliver benefits to both American businesses and local Pakistani communities. She highlighted that EXIM’s broader project financing in Pakistan could reach $2 billion, primarily through supplying high-quality American mining equipment and technical services essential for Reko Diq’s long-term operations.
Economic Impact on Balochistan
Baker emphasized that this partnership will directly strengthen Balochistan’s economic foundation and support sustainable regional development. The injection of U.S. financing is expected to accelerate infrastructure growth, improve local livelihoods, and enhance Pakistan’s investment environment. The focus on modern mining technologies also positions the project to meet international environmental and operational standards, bolstering its long-term viability.
Job Creation Across Both Nations
The expanded EXIM assistance will generate employment on a transnational scale. According to Baker, the Reko Diq project will create an estimated 6,000 jobs in the United States and 7,500 jobs in Balochistan. These figures illustrate the shared economic gains and the deepening interdependence between the two economies.
A Strengthened Strategic Partnership
By reaffirming America’s commitment to Pakistan’s development, Baker framed the new financing as a milestone in advancing US-Pakistan collaboration. She urged stakeholders to view the initiative as a catalyst for regional growth, enhanced economic stability, and the empowerment of local communities through modern mining infrastructure.
