India Faces Diplomatic Setback as World Bank Approves Concessional Loan for Pakistan’s Reko Diq Project

Islamabad:In a major diplomatic win for Pakistan and a significant setback for India, the World Bank’s International Finance Corporation (IFC) has approved a concessional loan of $700 million for the Reko Diq mining project. The decision was finalized during a board meeting held in Washington.
The approval marks a turning point for the multi-billion-dollar copper and gold mining venture in Balochistan, as it also paves the way for an additional $2.5 billion in private sector investment. The financial boost is seen as a result of effective diplomatic efforts by Pakistan on the international stage.
Key to this achievement was Dr. Tauqir Hussain Shah, Advisor to the Prime Minister, who played a pivotal role in lobbying for the project at the World Bank. His engagement and advocacy were instrumental in securing the much-needed support and final approval.
The development not only strengthens Pakistan’s economic prospects but also highlights the country’s growing influence in global financial institutions despite external efforts to hinder such progress.