KARACHI: Bank Alfalah has signed a $50 million senior term loan facility with British International Investment (BII) to expand climate finance in Pakistan. The agreement aims to support sustainable development and strengthen the country’s resilience against climate change.
The agreement was signed at BII’s headquarters during London Climate Action Week, held from June 20 to 28. The signing ceremony was attended by senior officials from both organizations.
The agreement was signed by Atif Bajwa, President and CEO of Bank Alfalah, and Leslie Maasdorp, Chief Executive Officer of British International Investment. British High Commissioner to Pakistan Jane Marriott also attended the event.
The new financing facility comes at a time when Pakistan continues to face increasing climate-related challenges. The country remains vulnerable to floods, extreme weather, and other environmental risks that affect communities and the economy.
The partnership is designed to improve access to climate finance and encourage greater private sector investment. Officials believe this support will help bridge the financing gap for climate adaptation, mitigation, and resilience projects.
Under the agreement, Bank Alfalah will use the funding to finance eligible climate projects across Pakistan. The investment will help businesses adopt cleaner, more sustainable technologies and improve their ability to deal with climate-related risks.
The financing will support projects such as climate-smart agriculture and modern water irrigation systems. These initiatives are expected to improve productivity while reducing environmental impacts.
Agribusinesses will also benefit from the facility. The agricultural sector is one of Pakistan’s largest economic contributors but remains highly vulnerable to climate change and extreme weather conditions.
In addition to the loan, British International Investment will provide technical assistance to the bank. This support will help develop a stronger pipeline of climate-related projects and improve the bank’s ability to finance sustainable initiatives.
Speaking at the signing ceremony, Atif Bajwa said the partnership reflects Bank Alfalah’s commitment to promoting climate finance in Pakistan. He added that the agreement would help attract international investment into sectors that support long-term economic growth and environmental sustainability.
Leslie Maasdorp said Pakistan is on the frontline of climate change and requires greater access to climate finance. He noted that the investment would support climate adaptation projects while strengthening the agricultural sector.
British High Commissioner Jane Marriott said the partnership demonstrates how Pakistan and the United Kingdom can work together to address climate challenges. She added that the agreement would help businesses and farmers invest in climate-smart solutions while supporting economic growth.
The latest transaction further strengthens Bank Alfalah’s role in sustainable finance. The bank continues to expand support for renewable energy, energy efficiency, climate adaptation, and other environmentally responsible projects.
The bank has also played an active role in social welfare. Since 2022, it has been among the country’s leading corporate contributors to flood relief efforts and has supported rehabilitation through its Revive and Rise programme.
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The new agreement marks another step toward increasing climate investment in Pakistan while helping businesses and communities build a more sustainable and resilient future.
