Japan’s JBIC joins Reko Diq lender group as Pakistan nears financial close on the project

Pakistan’s flagship Reko Diq copper-gold project has received a major diplomatic and financial boost as the Japan Bank for International Cooperation (JBIC) has officially joined the group of international lenders backing the venture. The move is being hailed as a strong signal of renewed global confidence in Pakistan’s mining potential and economic direction. 

The development came during a high-level meeting in Washington D.C. between Finance Minister Senator Muhammad Aurangzeb and JBIC Governor Nobumitsu Hayashi, held on the sidelines of the IMF and World Bank Annual Meetings. 

A Vote of Confidence in Pakistan’s Economy 

Finance Minister Aurangzeb welcomed JBIC’s decision, calling it a “strong endorsement” of Pakistan’s reform agenda. He also declared that the backing of a major Japanese financial institution would not only strengthen the Reko Diq project but also encourage other Japanese companies to increase investment in Pakistan. 

He emphasized that Pakistan is committed to offering a transparent, secure, and predictable environment for foreign investors. The government, he said, wants deeper collaboration with Japan in energy, infrastructure, and industrial development. 

Read more: Pakistan secures $3.5 billion financing from global lenders for Reko Diq project

Aurangzeb pointed out that Pakistan’s recent Staff Level Agreement (SLA) with the IMF and improved credit ratings from all major global agencies had sent “a clear message that reforms are real and are delivering results.” 

Reko Diq’s International Significance 

Reko Diq, one of the world’s largest undeveloped copper and gold reserves, is widely glanced as a test case for Pakistan’s capability to captivate sustainable, long-term investment. Analysts keep on believing that JBIC’s participation could unlock more financing from other global lenders, revitalizing interest in the country’s mining and extractive industries. 

Beyond the JBIC meeting, the finance minister also held talks with: 

• U.S. Congressman French Hill 

• Representatives from S&P Global 

• Other international financial and policy stakeholders 

He kept on addressing the investors at a JP Morgan Seminar and spoke at a World Bank roundtable on tax digitalization, highlighting progress in governance, digital reforms, and private sector–led growth. 

Officials say JBIC’s involvement could mark a turning point for both Reko Diq and Pakistan’s broader investment landscape, signaling that international partners are regaining confidence in the country’s economic trajectory.