Pakistan’s Ministry of Finance announced an agreement with the International Finance Corporation (IFC) to expedite financial close for the Reko Diq mining project. Finance Minister Muhammad Aurangzeb met IFC Regional Vice President Riccardo Puliti in Washington, DC, during the IMF and World Bank annual meetings.
Both parties pledged to finalise financing arrangements swiftly, marking Reko Diq as a flagship IFC engagement in Pakistan. Aurangzeb highlighted the improvement in macroeconomic indicators and praised IFC’s role in private-sector investments under the 10-year Country Partnership Framework (CPF).
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Aurangzeb welcomed IFC’s new Islamabad office, signalling deeper cooperation. The Reko Diq project, a multi-billion-dollar copper-gold mine in Balochistan, promises economic growth and jobs.
In a separate meeting, Aurangzeb discussed ongoing projects with Islamic Development Bank (IsDB) President Dr. Muhammad Sulaiman Al Jasser. He thanked IsDB for financing M-6 Motorway sections and sought support for anti-polio efforts and oil supplies.
The agreements boost Pakistan’s mining sector and attract foreign investment amid reforms. Reko Diq’s timely financing could enhance GDP and infrastructure.
