US Exim Bank okays $1.2bn for Reko Diq

ISLAMABAD: The Exim Bank of the United States has approved $1.25 billion in financing to support the mining and critical minerals in Reko Diq, US Charge d’Affaires in Pakistan, Natalie Baker said in a video statement on Wednesday.

In the coming years, she said in her message on social media, the project financing will bring in $2bn in high-quality US mining equipment and services needed to build and operate Reko Diq mines.

Along with creating an estimated 6,000 jobs in the US and 7,500 jobs in Balochistan, the Reko Diq project serves as a model for mining projects, benefiting US exporters as well as local Pakistani communities and partners by bringing employment and prosperity for both nations, Ms Baker said.

Such initiatives are central to American diplomacy, she said, foreseeing further agreements between US companies and their Pakistani counterparts in the critical minerals and mining sector.