ISLAMABAD: The Reko Diq project has taken a major step forward as the US Export-Import Bank (Exim Bank) has formally approved $1.25 billion in financing for the landmark mining venture.
The decision is being seen as a breath of fresh air for the project, expected to speed up development, attract further investment, and give a strong push to economic activity in Balochistan.
Exim Bank official Natalie Baker said the approved financing would play a key role in boosting mineral development and critical mining operations at Reko Diq. Under the program, advanced mining machinery worth around $2 billion will be imported into Pakistan, helping the project move ahead in line with international standards.
She said the financing would also create significant employment opportunities in both countries, with an estimated 13,000 jobs overall. This includes around 7,500 jobs in Balochistan and 6,000 in the United States, making it a win-win situation for both sides.
Baker expressed hope that the support would pave the way for more joint ventures between Pakistani and American companies in the minerals and mining sector, further strengthening bilateral economic ties.
She added that the new financial backing under the US-Pakistan partnership would open new doors for economic development, job creation, and the use of modern technology in Balochistan, putting the project on a fast track toward success.
