IFC to boost Reko Diq with $400M investment as the project is aiming to attract major foreign investments to Pakistan.
The International Finance Corporation (IFC) has committed $400 million in financial support for the Reko Diq project.
With this latest contribution, IFC’s total investment in the project now amounts to $700 million.
Additional financial institutions, including the U.S. EXIM Bank, Asian Development Bank (ADB), as well as partners from Japan and Canada, are also anticipated to participate in the funding arrangement.
Over a projected 37-year period, Reko Diq is expected to yield up to $74 billion in revenue.
Makhtar Diop, Managing Director of the IFC, stated that production from the Reko Diq mine, Pakistan’s largest copper and gold venture, is set to begin in 2028.
He added that the project would significantly attract foreign direct investment to Pakistan and create extensive job opportunities in Balochistan.
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