Islamabad:
In an important victory for Pakistan, the International Finance Corporation (IFC) and the World Bank approved a concessional loan of $ 700 million for the Reko Diq project, a major mining and resource development initiative.
This approval, granted during a meeting of the board of directors in Washington, is an important diplomatic victory for Pakistan and a major setback for India, which had actively put pressure against funding.
Following this approval, the private sector should invest $ 2.5 billion in the Reko Diq project, one of the most important initiatives in Pakistan. The success of obtaining this loan testifies to the effective diplomatic efforts of Pakistan, in particular 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 directed efforts to the World Bank, successfully lobbying for the loan. His contributions played a decisive role in the guarantee of this approval, marking an important step in the success of the Reko Diq project.
This loan approval strengthens the economic position of Pakistan and highlights its successful diplomatic maneuvers in the guarantee of vital investment for the future of the country. The support of this large -scale project is particularly important in light of regional geopolitical tensions, India actively seeking to block the financing of the project.
With this decision, Pakistan has made a crucial step in the success of the success of the Reko Diq project, which should play a central role in the country’s resource development sector.
