WASHINGTON: The head of the U.S. Export-Import Bank (Exim) said the organization would provide a $1.25 billion loan to Barrick Mining’s Reko Diq mine in Pakistan, as part of a broader plan to invest $100 billion to bolster U.S. and allied supply chains for critical minerals, nuclear power and natural gas.
The first tranche of deals will include projects in Pakistan, Egypt and Europe, said the organization’s president, John Jovanovic. Financial times in an interview on Sunday. He added that the West was too reliant on supplies that “are no longer fair.”
“We can’t do anything more than what we’re trying to do without these underlying critical raw material supply chains being secure, stable and functioning,” Jovanovic was quoted as saying.
Jovanovic said FOOT that the bank has 100,000 million dollars left to deploy of the 135,000 million authorized by Congress. He said the bank’s first deals would also include a credit insurance guarantee for $4 billion of natural gas to be delivered to Egypt by New York-based commodities group Hartree Partners.
Exim Bank did not respond to a request for comment.
Published in Dawn, November 24, 2025
