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Pakistan has secured $3.5 billion in funding for the Reko Diq venture, supported by six international donor agencies led by U.S. EXIM Bank and Asian Development Bank (ADB). Also supporting are 11 international financial institutions and development partners like IFC – International Finance Corporation, International Development Association (IDA), and European Bank for Reconstruction and Development (EBRD). The deal was negotiated by the Special Investment Facilitation Council (SIFC).
Out of the overall $4.2 billion project investment, considerable stakes are held by Barrick Gold Investments, the Balochistan Government, Oil and Gas Development Company Limited (OGDCL Official), and Pakistan Petroleum Limited (PPL). The Reko Diq project has a 37-year duration in three phases: initially in Chagai district with $16.6 billion, then $7.7 billion and $4.8 billion in subsequent phases.
The project will set up 53 units in Balochistan and create 75,000 employment opportunities. Once established in full capacity (2025–2028), it’s estimated to provide up to $35 billion worth of foreign exchange per annum.
