ISLAMABAD (Web Desk) – Pakistan’s Reko Diq mining project has received a major boost as the US Export-Import Bank (Exim Bank) formally approved $1.25 billion in financing for the initiative.
The funding is expected to fast-track project development, attract additional investments, and energize economic activity in Balochistan.
According to Exim Bank official Natalie Baker, the financing will play a crucial role in expanding mineral exploration and critical mining operations at Reko Diq. The plan includes importing modern mining equipment worth approximately $2 billion to bring the project up to international standards.
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Baker highlighted that the initiative will create around 13,000 jobs in total, benefiting both Pakistan and the United States. This includes an estimated 7,500 employment opportunities in Balochistan and 6,000 in the US, marking a mutually beneficial arrangement.
She further noted that the financial support could pave the way for additional collaborations between Pakistani and American firms in the mining sector, strengthening trade and investment ties between the two countries.
“The partnership not only supports economic growth and job creation in Balochistan but also introduces modern technology and expertise to the region, setting the stage for a successful and sustainable mining venture,” Baker added.
