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After a month, Pakistan is going to get another loan of $ 700 million. Shahbaz Sharif government had requested for funds in the name of Copper-Gold Mining Reco Project, which was approved by the International Finance Corporation (IFC) and the World Bank. This project is located in Balochistan, Pakistan.
Last month, on 9 May, the International Monetary Fund (IMF) approved a $ 2.4 billion loan for Pakistan, out of which one billion dollars were given to the $ 7 billion loan program, while $ 1.4 billion was received to deal with climate change. This loan was approved at a time when the relations between Pakistan and India were going through a very tough period and India also strongly opposed the loan in the IMF.
The Express Tribune, according to Pakistan, the loan has been approved during the board meeting in Washington, which is being seen as a diplomatic victory for Pakistan. Pakistan has described this project as one of the most important initiatives in the country. In this sense, the approval of International Forms is also considered very important for Pakistan as the RECO Dikk project is also expecting an investment of $ 2.5 billion from private companies.
According to the report, Dr. Tauqir Hasan, Advisor to Pakistan Prime Minister Shahbaz Sharif, has played an important role in passing the loan from IFC and World Bank. Pakistan managed to take loans with his advocates and efforts in the World Bank for the loan. & Nbsp;
In April, the IFC said that it would give a loan of $ 300 million for RECO Dik Copper-Gold Mining Project. However, in the Minerals Investment Forum 2025, the Director of the Project Tim Krib said that he could get a loan of $ 650 million from IFC.
Tim Krib feels that the World Bank could also get a loan of up to two billion dollars for the project as he told the Reuters that he expects the financial lenders for more than two billion dollars for the project. He had said that the termsheet will be signed in this regard at the beginning of the third quarter. & Nbsp;
Barrical miners are also talking to many more international forms for the project. Tim Krib said that talks are also going on with the US Export-Import Bank. Tim Krib said that talks are going on with US Bank $ 500 to 1 billion to 1 billion loans as well as Asian Development Bank, Export Development Canada and Japan Bank for International Corporation for loans of $ 500 million."text-align: justify;"> What is the Rico Diki Project?
RECO Project is one of the world’s largest underdeveloped copper and gold reserves located in Chagai district of Baluchistan. The company is working together on this company, Bairak Gold, Government of Pakistan and Provincial Government of Balochistan, whose first phase is expected to start in the year 2028. & nbsp;
According to the report, the loan will help in the development of Raco Dik Mine mine, which is being described as one of the world’s largest copper-gold reserves, which is expected to generate free cash flow of $ 70 billion and operating cash flow of $ 90 billion.
According to the Canadian company Barrical, 50 percent of the RECO Diks project is of barricade and 25-25 percent of the Government of Pakistan and the Government of Balochistan. Project
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