IFC Investment in Reko Diq Reaches $700 Million as Project Gains Global Momentum

Islamabad: The International Finance Corporation (IFC) has committed an additional $400 million in funding to the Reko Diq mining project in Pakistan, raising its total investment to $700 million. This marks a significant vote of confidence in one of the country’s largest mineral ventures, which is expected to transform the national economy.
The Reko Diq project, with an estimated cost of $6.6 billion, is poised to inject new life into Pakistan’s economy. Over its projected 37-year lifespan, the project is expected to generate revenue of up to $74 billion, making it one of the most lucrative ventures in Pakistan’s history.
The financial structure of the project is a blend of equity and debt contributions from a consortium of international financial institutions. Among those expected to join the financing alliance are the U.S. EXIM Bank, the Asian Development Bank (ADB), and financial institutions from Canada and Japan.
IFC Managing Director Makhtar Diop stated, “We are increasing our focus on infrastructure, energy, and natural resources in Pakistan. Our investment in energy and natural resources is set to double.” His comments reflect growing international interest in Pakistan’s resource development sector.
Reko Diq, Pakistan’s largest copper and gold mining project, is scheduled to begin production in 2028. It is expected to significantly contribute to the development of Balochistan, creating extensive employment opportunities and boosting socio-economic growth in the region.
Beyond economic benefits, the Reko Diq project is also seen as a catalyst for attracting further foreign direct investment (FDI) into Pakistan. It positions the country prominently on the global mineral map and strengthens investor confidence in Pakistan’s mining and natural resource sectors.