ADB provides $410m package for Pakistan | Asian Markets

The Asian Development Bank (ADB) has authorised a financing package for the Reko Diq copper-gold mine in Pakistan. ADB’s contribution consists of up to $300 million in senior loans to the Reko Diq Mining Company Private (RDMC), which owns the mine, and a $110 million partial credit guarantee to cowl the equity element of the federal government of Balochistan.

In a media release, the ADB stated it’s one of a number of businesses funding the primary part of Reko Diq, and that it’s “an innovative financing package that will help unlock greater private capital by derisking this investment.” 

The ADB added that the ginancing for the project would be the largest overseas direct investment in Pakistan’s historical past.

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