Finance Minister Targets Early Financial Close for Reko Diq

Pakistan’s Finance Minister Muhammad Aurangzeb kicked off a packed agenda in Washington as he leads the country’s delegation to the annual IMF and World Bank meetings, aiming to attract fresh investment and accelerate key infrastructure projects. Aurangzeb met with Riccardo Puliti, the International Finance Corporation’s Regional Vice President, to discuss scaling up private sector investment in Pakistan. The minister touted the country’s improving macroeconomic indicators and welcomed IFC’s multi-billion-dollar commitment under the 10-year Country Partnership Framework. Both sides agreed to push for early financial closure of the flagship Reko Diq mining project, which has recently drawn renewed global interest. Aurangzeb also praised IFC’s decision to open a regional office in Islamabad, signaling deeper engagement in the region. In a separate meeting, Aurangzeb thanked Islamic Development Bank President Dr. Muhammad Sulaiman Al-Jasser for the lender’s ongoing support, including recent board approval for financing two sections of the M-6 motorway. The minister called for faster implementation of existing projects and highlighted the need for continued cooperation on Pakistan’s polio eradication campaign and oil financing facility. Both parties agreed to develop a new Country Engagement Framework to guide future collaboration. The meetings come as Pakistan seeks to shore up foreign investment and development financing amid ongoing economic reforms and efforts to stabilize its fiscal position.