Reko Diq Project: Aurangzeb Vows Swift Financial Closure to Boost Pakistan’s Investment Climate

October 14, 2025 — WASHINGTON: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has set a determined tone during his official visit to Washington, D.C., emphasizing Pakistan’s commitment to accelerate the financial closure of the Reko Diq project. The initiative is being viewed as a pivotal step for unlocking investment in the country’s mining sector and strengthening economic resilience.

Highlights

• Pakistan and IFC agreed to expedite financial closure for the Reko Diq project.
• Aurangzeb met IFC Regional Vice President Riccardo Puliti to discuss investment priorities.
• The project represents IFC’s first mining sector investment in Pakistan.
• IFC will establish a new regional office in Islamabad.
• Aurangzeb also met Islamic Development Bank President Dr. Muhammad Sulaiman Al-Jasser to review development projects and financing.
• Discussions took place on the sidelines of IMF and World Bank annual meetings in Washington.

Strategic Dialogue with IFC Focused on Early Reko Diq Closure

Aurangzeb began his Washington engagements on Monday with a high-level meeting with Riccardo Puliti, IFC Regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan. The discussion centered on Pakistan’s strengthening macroeconomic indicators and strategies to attract greater private sector investment under the 10-year Country Partnership Framework (CPF).

The finance minister appreciated IFC’s longstanding partnership and the scale of its support in mobilizing multi-billion-dollar investments. Both sides agreed to fast-track financial arrangements for the Reko Diq project, recognizing its significance as one of IFC’s flagship engagements in Pakistan. Aurangzeb reaffirmed his commitment to achieving early financial closure, describing the initiative as essential for sustainable economic growth and increased investor confidence.

He welcomed IFC’s decision to set up a regional office in Islamabad, calling it an important step to enhance collaboration and operational efficiency.

Reko Diq: A Breakthrough for Pakistan’s Mining Sector

The IFC loan marks its first-ever investment in Pakistan’s mining industry, setting a strong precedent for future foreign investment in the sector. The Reko Diq project is expected to attract additional capital, generate employment, and strengthen the economic base in a region that has historically faced structural challenges. It is also seen as a key driver for long-term foreign direct investment and enhanced economic stability.

Strengthening Ties with Islamic Development Bank

Later, Aurangzeb met Dr. Muhammad Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB). He expressed gratitude for IsDB’s longstanding support and reviewed ongoing development projects, stressing the need for timely implementation.

The minister thanked the IsDB board for approving financing for two sections of the M-6 Motorway, a crucial infrastructure project. He also highlighted the importance of continued cooperation in polio eradication initiatives and oil financing facilities, underscoring the value of multilateral development partnerships in supporting Pakistan’s economic objectives.

A Defining Moment for Economic Cooperation

The series of high-level meetings in Washington reflects Pakistan’s proactive economic diplomacy. With the Reko Diq financial close on the horizon, the government is positioning itself to strengthen investor confidence, diversify funding streams, and align infrastructure development with long-term national growth strategies.

Both Pakistan and IFC have reaffirmed their mutual commitment to finalize the Reko Diq financing swiftly, paving the way for one of the most significant mining ventures in the country’s history.

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