$6bn global funding announced for Pakistan’s Reko Diq project
US, Japan join global institutions in backing $6bn investment: ADB, World Bank approve $1.05bn for world-class copper-gold venture: Foreign investment to boost jobs and exports
The Reko Diq copper-gold project has secured $6 billion in funding from the United States, Japan, and leading international financial institutions, with the Asian Development Bank (ADB) and World Bank already approving $1.05 billion.
According to the 24NewsHD TV channel, the landmark deal, facilitated through the Special Investment Facilitation Council (SIFC), is being hailed as Pakistan’s largest-ever foreign investment milestone, promising to transform both the mining sector and the broader economy.
According to ADB, the project will not only help address the global copper supply gap but also create thousands of jobs, accelerate regional and social development, and inject vital momentum into Pakistan’s economic recovery.
Officials noted that once operational, Reko Diq will serve as a strategic driver of growth, spurring investment inflows, strengthening foreign reserves, and enhancing Pakistan’s industrial base.
The project, located in Balochistan’s mineral-rich Chagai district, is widely seen as a game-changer for Pakistan’s economic future.
Reko Diq is a massive, undeveloped copper-gold project located in the Chagai District of Balochistan, Pakistan, near the borders with Iran and Afghanistan.
Operated by a joint venture including Canada's Barrick Gold and the Pakistani federal and provincial governments, the project aims to produce copper and gold and is projected to begin production in 2028.
The project has a significant economic and strategic importance for Pakistan, promising vast revenues, investment, and job creation, and is already seeing substantial investment from bodies like the Asian Development Bank (ADB).
Reporter: Ahmad Mansoor