Why World Bank, IMF and IFC trying to make Pakistan rich?

After a month, pakistan is going to get another loan of 700 million dollars. The Shahbaz Sharif government had requested for funds in the name of the copper-gold mining Reko Diq project, which was approved by the international Finance Corporation (IFC) and the World Bank. This project is located in Balochistan, Pakistan.

On May 9, last month, the international Monetary Fund (IMF) approved a loan of 2.4 billion dollars for pakistan, out of which one billion dollars was given to it as an installment of the 7 billion dollar loan program, while a loan of 1.4 billion dollars was received to deal with climate change. This loan was approved at a time when relations between pakistan and india were going through a very bitter phase and india had also strongly opposed the loan in the IMF.

According to The Express Tribune, 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 of the country. The approval of international forums is also considered very important for pakistan in this regard because an investment of $ 2.5 billion is also expected from private companies in the Reko Diq project.

According to the report, Dr. Tauqeer Hasan, advisor to pakistan Prime minister Shahbaz Sharif, has played an important role in getting the loan passed from IFC and World Bank. Pakistan was successful in getting the loan due to his lobbying and efforts in the World bank for the loan.

In April, IFC had said that it would give a loan of $ 300 million for the Reko Diq copper-gold mining project. However, the project’s director Tim Cribb had said at the Minerals Investment Forum 2025 that he could get a loan of $ 650 million from IFC.

Tim Cribb thinks that the project can also get a loan of up to two billion dollars from the World bank as he told Reuters that he expects more than two billion dollars of financing from international lenders for the project. He said that the term sheet will be signed in this regard in the beginning of the third quarter.

Barrick Miners is also talking to many other international firms for the project. Tim Cribb said that talks are also going on with the US Export-Import Bank. Tim Cribb said that talks are also going on with the Asian Development bank, Export Development canada and japan bank for International Corporation for a loan of 500 million to 1 billion dollars from the US Bank and also for a loan of 500 million dollars.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}