Washington: The Japanese Bank JBIC has also expressed its willingness to become the part of the group that gives load for the Reko-Diq project.
This progress was revealed disclosed during a high level meeting between the Federal minister of finance and the Chinese and the Japanese officials in the Washington DC.
In a statement published on the Friday, the Finance minister held many sitting while attending the meetings with the IMF and the World Bank officials during the fourth day in his engagements in the Washington DC.
He welcomed the participation of the Japanese Bank for International Cooperation (JBIC) in the Lenders for the Reko Diq project during his meeting with the Governor JBIC.
He said this move will strengthen the trust of the investors of the project and this will urge the Japanese companies to enhance their investment.
Muhammad Aurangzeb emphasized that protecting foreign investors is among the government’s top priorities and highlighted new prospects for bilateral cooperation.
The finance minister also met with French Hill, Chairman of the U.S. House Financial Services Committee, where both sides discussed ways to further expand financial and economic cooperation between Pakistan and the United States, with particular focus on the digitalization of financial services, the new economy, mineral resource development, and collaboration in the IT sector.
Reko Diq is one of the world’s largest undeveloped copper and gold deposits, located in Balochistan, Pakistan. The site holds an estimated 5.9 billion tons of ore containing valuable minerals.
It is being developed under a partnership between Pakistan’s government, Barrick Gold Corporation, and the Balochistan government.
The project promises to generate significant economic benefits through job creation, infrastructure development, and foreign investment.
Reko Diq is also expected to contribute substantially to Pakistan’s exports and revenue once operational. Environmental management and equitable resource sharing with local communities remain key priorities in ensuring sustainable development of this major mining project.
