Pakistan and IFC to Fast-Track Financial Closure of Reko Diq Project

Pakistan and the International Finance Corporation (IFC) have agreed to speed up the financial closure of the Reko Diq project, marking a major step toward unlocking foreign investment in the country’s mining sector. Finance Minister Muhammad Aurangzeb announced the progress during high-level meetings with global financial institutions in Washington.

Pakistan, IFC Strengthen Investment Cooperation

Aurangzeb met Riccardo Puliti, IFC’s Regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan. He praised IFC’s contribution to private-sector development under its 10-year Country Partnership Framework (CPF) and welcomed the opening of IFC’s new regional office in Islamabad.
He said the office would help deepen collaboration and boost investor confidence in Pakistan’s reform-driven economic agenda. The IFC team also reaffirmed its commitment to accelerate projects supporting infrastructure, energy, and private-sector growth.
These meetings are being held alongside the IMF–World Bank Annual Meetings, where Aurangzeb is leading Pakistan’s efforts to attract long-term investment and sustain economic reforms.Focus on Reform, Climate, and Resilience
In discussions with IMF’s Jihad Azour and World Bank’s Axel van Trotsenburg, both sides emphasized maintaining reform momentum and macroeconomic stability under the Extended Fund
Facility (EFF). Aurangzeb highlighted Pakistan’s climate vulnerabilities, citing the economic impact of floods and the urgent need for investment in adaptation and mitigation.
At the Commonwealth Finance Ministers’ Meeting, he called for concrete actions to build financial resilience. He supported initiatives like the Infrastructure and Financial Resilience Hub and stressed operationalizing climate financing tools, including the Loss and Damage Fund.