Islamabad:
In a significant victory for Pakistan, the International Finance Corporation (IFC) and the World Bank have approved a concessional loan of $ 250 million for the Reko DIQ project, an important mining and resources development initiative.
This approval, awarded during a meeting of the Board in Washington, is an important diplomatic victory for Pakistan and an important setback for India, which had actively pressed against the funds.
As a result of this approval, the private sector is expected to invest $ 2.5 billion in the Reko DIQ project, one of Pakistan’s most important initiatives. The success in ensuring this loan is a testimony of the effective diplomatic efforts of Pakistan, especially in the light of the opposition of India.
Dr. Tauqeer Hussain Shah, advisor to the prime minister, played a key role in this achievement. He launched efforts on the World Bank, successfully pressing the loan. His contributions were fundamental to ensure this approval, marking an important milestone in the success of the Reko Diq project.
This loan approval strengthens the economic position of Pakistan and highlights its successful diplomatic maneuver to ensure vital investments for the future of the nation. The support of this large -scale project is particularly significant in the light of regional geopolitical tensions, and India actively seeks to block project financing.
With this decision, Pakistan has taken a crucial step by ensuring the success of the Reko DIQ project, which is expected to play a fundamental role in the country’s resources development sector.
