ISLAMABAD:
Pakistan and the International Finance Corporation (IFC) have agreed to take measures aimed at achieving early financial closure of the Reko Diq project, the Ministry of Finance announced on Sunday.
According to a statement, Finance Minister Muhammad Aurangzeb met with Riccardo Puliti, IFC Regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan and Pakistan, in Washington, DC.
Both sides expressed their commitment to expedite the finalization of financial arrangements for the Reko Diq project, which is considered one of IFC’s key commitments in Pakistan.
The Finance Ministry said Minister Aurangzeb, accompanied by his team, arrived in Washington to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank. The meeting with the IFC marked the beginning of their official commitments.
During the meeting, Aurangzeb highlighted Pakistan’s improving macroeconomic indicators and praised IFC’s long-standing partnership with the country.
He expressed satisfaction with IFC’s role in promoting private sector investment in Pakistan, including multi-billion dollar projects under the 10-year National Partnership Framework (PPF).
The statement added that both parties agreed to take measures to finalize the financing of the Reko Diq project as soon as possible. The minister also welcomed the IFC’s decision to establish a new regional office in Islamabad.
Later, the minister held a productive meeting with the president of the Islamic Development Bank (IsDB), Dr. Muhammad Sulaiman Al Jasser. He thanked IsDB for its long-term support to Pakistan and reviewed the progress of ongoing projects, emphasizing their timely completion.
Aurangzeb expressed gratitude to the IDB President for approving funding for two stretches of the M-6 highway and expressed hope for continued cooperation in Pakistan’s anti-polio efforts and oil supply projects.
