The International Monetary Fund (IMF) has sought a detailed briefing on the Reko Diq project, it was reported on Friday.
Sources said that the IMF delegation will be given a briefing on the impact of the micro-financing on the project very soon.
The briefing will also include information about local and foreign financing. The IMF delegation will review the fiscal risks involved in the guarantees of this project.
The IMF team, in Islamabad since September 25, has been holding meetings with various stakeholders as part of the second review of the $7 billion bailout programme, which is expected to unlock a $1 billion tranche. Under its climate facility, Pakistan is also due to receive an additional $220 million.
The Reko Diq project is operated by the Reko Diq Mining Company (RDMC), in which Canada’s Barrick Gold holds a 50% stake, while the federal and Balochistan governments share the remaining half equally.
Officials confirmed that the IMF sought the briefing just as the project is reaching financial close, backed by around $3.5 billion in loans committed by international lenders.
The US Exim Bank has emerged as one of the largest financiers, with commitments ranging between $700 million and $1.2 billion.
