$3bn financing for Reko Diq project advances with IFC/IDA approval of loan

QUETTA: Reko Diq Mining Company (RDMC) is continuing to progress with the raising of up to $3 billion of limited recourse project finance to support the development of Phase 1 of the Reko Diq project involving a group of lenders including the International Finance Corporation (IFC) and the International Development Association (IDA), Asian Development Bank (ADB), US International Development Finance Corporation (DFC), Export-Import Bank of the United States (US EXIM), Export Development Canada (EDC), Euler Hermes AG and KfW IPEX-Bank GmbH of Germany, Export kreditnämnden (EKN) of Sweden, and Finnvera Oyi (Finnvera) of Finland, together with a covered commercial bank tranche.

RDMC remains on track to sign project finance documents and have the project loan available for initial drawdown in the second half of 2025.

In line with this, RDMC welcomes the approval on 12 June 2025 by the IFC and IDA of a direct loan of up to $700 million for RDMC at a joint board meeting. The target for first production from the project remains the end of 2028.

Copyright Business Recorder, 2025