The Asian Development Bank (ADB) has approved a financial package for the Reko Diq copper-gold mining project in Balochistan. The package includes a $300 million loan and a $110 million partial credit guarantee to secure the Balochistan government’s equity contribution.
In a press release issued on Friday, ADB President Masatsugu Asakawa said the project would strengthen global supply chains for critical minerals. He added that the project would also support the transition to clean energy and digital innovation.
The ADB chief described Reko Diq as a game-changer for Pakistan. He said it would create quality jobs, diversify the economy, and boost resilience.
According to ADB, this initiative will mark the largest-ever foreign direct investment in Pakistan’s history. The project is expected to become a major source of economic growth and stability for the country.
The bank emphasized that its involvement in the first phase demonstrates confidence in Pakistan’s economic future. The financial package will help ensure that Balochistan’s share of the investment is fully secured and protected.
The Reko Diq project holds global significance as demand for copper and gold rises worldwide. These minerals are crucial for industries linked to clean energy, advanced manufacturing, and digital technologies.
The ADB stated that the project will not only benefit Pakistan’s economy but also play a vital role in meeting international needs for critical resources. It will help integrate Pakistan into global markets while enhancing regional development in Balochistan.
Experts believe the project will generate thousands of jobs and provide long-term benefits for local communities. With international backing, Reko Diq is positioned as one of the most strategic mining ventures in Asia.
