Karachi
\nBank Alfalah Limited and British International Investment (BII), the UK\u2019s development finance institution and impact investor, have signed a USD 50 million senior term loan facility to support and scale climate finance in Pakistan.
\nThe timely partnership is critical to building long-term resilience and supporting sustainable economic growth in Pakistan, as the country remains highly vulnerable to climate change, with recurring floods, extreme weather events, and rising climate-related risks. It underscores the urgent need for greater private sector capital to close the financing gap across climate adaptation, resilience and mitigation.
\nBank Alfalah will use the facility to expand financing for eligible climate projects in Pakistan that are aligned with a more sustainable and climate-resilient future.
\nThis will support local businesses to invest in cleaner, more resilient and sustainable solutions, such as climate-smart agriculture and water irrigation systems.
\nIt will also directly support agribusinesses which are amongst the most vulnerable groups impacted by climate change, despite being a key economic contributor. This reflects both parties\u2019 continued focus on supporting Pakistan\u2019s sustainable development priorities.
\nAlongside the investment, BII will support Bank Alfalah in building a pipeline of eligible climate assets through technical assistance. This will help further strengthen the Bank\u2019s ability to originate and deploy financing towards projects that address both the causes and consequences of climate change.
\nAtif Bajwa, President and CEO of Bank Alfalah, said:
\n\u201cWe are pleased to partner with British International Investment which reinforces Bank Alfalah\u2019s commitment to supporting climate finance in Pakistan and raising international capital towards sectors and businesses that are critical for the country\u2019s sustainable and resilient growth.
\nThis partnership also reflects the confidence of a leading global development finance institution in Bank Alfalah\u2019s platform, governance, and ability to deploy capital towards high-impact opportunities.\u201d
\nLeslie Maasdorp, Chief Executive Officer at British International Investment, said:
\n\u201cPakistan is on the frontline of climate change, and increasing access to climate finance is critical to building long-term resilience and supporting sustainable growth.
\nOur investment in Bank Alfalah will help channel much-needed capital to climate mitigation and adaptation projects, as well as the agricultural sector, a vital pillar of the country\u2019s economy. It also reflects our commitment under our new five-year strategy to scale climate finance, including our target of at least 40 per cent of new investments in climate-related opportunities.\u201d
\nBritish High Commissioner to Pakistan, Jane Marriott CMG OBE said:
\n\u201cPakistan is highly vulnerable to climate change, but there is also a real opportunity to attract investment that supports a greener and more resilient future.
\nThis partnership between British International Investment and Bank Alfalah shows how the UK and Pakistan can work together to tackle the climate crisis. By helping businesses and farmers invest in climate-smart solutions, we are supporting resilience, economic growth, and communities across the country.\u201d
\nThe transaction further strengthens Bank Alfalah\u2019s role in sustainable finance and builds on its broader efforts to support clients across priority sectors, including renewable energy, energy efficiency, climate adaptation, agribusiness, and other eligible climate-linked activities.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi Bank Alfalah Limited and British International Investment (BII), the UK\u2019s development finance institution and impact investor, have signed a USD 50 million senior term loan facility to support and scale climate finance in Pakistan. The timely partnership is critical to building long-term resilience and supporting sustainable economic growth in Pakistan, as the country remains […]<\/p>\n","protected":false},"author":2,"featured_media":554631,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-554606","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n