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World Bank and IFC approve $700M loan for Pakistan's Reko Diq mining project, aiming to boost the country's resources.
The World Bank and IFC have approved a $700 million loan for Pakistan's Reko Diq mining project in Balochistan, expected to attract $2.5 billion in private sector investment.
The project, jointly owned by Barrick Gold and the Pakistani government, aims to boost Pakistan's resource sector.
Phase one, set to start production in 2028, is seeing negotiations for further financing with multiple lenders.
The World Bank plans to invest $2 billion annually in Pakistan's infrastructure over the next decade.
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El Banco Mundial y la IFC aprueban un préstamo de $700 millones para el proyecto de minería Reko Diq de Pakistán, con el objetivo de aumentar los recursos del país.