The United States has approved a major financing package worth $1.25 billion to support the development of critical minerals at Pakistan’s Riko Diq site, US Embassy Islamabad’s Chargé d’Affaires (CDA) Natalie A Baker announced on Wednesday.
In a video message posted on social media platform X, Baker said the U.S. Export-Import Bank (EXIM) had recently approved the financing that will significantly boost Pakistan’s mineral sector while deepening economic ties between the two countries. “I am pleased to highlight that the U.S. Export-Import Bank recently approved financing of $1.25 billion to support the mining of critical minerals at Riko Diq in Pakistan,” Baker said. She added that in the coming years, EXIM’s project financing would help bring in up to $2 billion worth of high-quality U.S. mining equipment and services required to build and operate the Riko Diqmine. According to the U.S. envoy, the project is expected to generate substantial employment opportunities on both sides: around 6,000 jobs in the United States and about 7,500 jobs in Balochistan, supporting local communities and contributing to regional economic growth.
Baker described the Riko Diqinitiative as a model of mutually beneficial cooperation, saying it would “bring employment and prosperity to both our nations” while supporting U.S. exporters and strengthening Pakistan’s mining capabilities. She underlined that the Trump administration had made forging such partnerships a key pillar of American diplomacy, especially in sectors involving critical minerals vital for global supply chains. “We look forward to seeing further agreements between U.S. companies and their Pakistani counterparts in the critical minerals and mining sector,” she added. The financing announcement marks one of the most significant U.S. economic engagements in Pakistan’s mineral sector, signaling expanding bilateral cooperation at a time when global demand for critical minerals continues to rise.
Meanwhile, Baker called on Deputy Prime Minister/Foreign Minister Ishaq Dar. The DPM/FM highlighted the importance of close Pak-US relations and discussed bilateral matters of mutual interest, the Foreign Office Spokesperson said. They also discussed key regional and international developments. Separately, Interior Minister Mohsin Naqvi held a productive meeting with UK Foreign Secretary Yvette Cooper on Wednesday during his visit to Brussels. The discussion was also joined by Alex Norris, the UK Minister of State at the Home Office.