Flood-hit infrastructure: Bank Alfalah pledges Rs1.4bn for rehabilitation

LAHORE: Bank Alfalah has announced a donation of Rs1.4 billion (USD5 million) for rehabilitation of flood-hit communities and rebuilding infrastructure to be spent in 2025-26.

The announcement was made by President and Chief Executive Officer (CEO) Atif Bajwa during media briefing in Lahore on Wednesday. He said that Chairman Alfalah Sheikh Nahayan Mabarak Al Nahayan and the Board of Directors of the Bank has approved additional Rs1.14 billion, equivalent to USD5 million, to help rebuild communities affected by the floods in 2025.

Out of this amount, 15 percent will be spent on immediate relief activities while the rest 85 percent will be utilized for the rehabilitation and rebuilding of infrastructure devastated by the recent floods, with the support of Bank’s 25 partners. Following the 2022 disaster, Bank Alfalah launched a USD10 million response plan implemented in two phases of immediate relief and long-term rehabilitation in flood impacted areas. The Bank has since worked with more than 25 partner organizations, including Akhuwat Islamic Microfinance, The Citizens Foundation, Karachi Relief Trust, and the Aga Khan Development Network, focusing on rebuilding homes, schools, and essential services while promoting financial inclusion and agricultural recovery, the CEO pointed out.

This latest commitment brings the Bank’s total contribution towards comprehensive flood relief and rehabilitation since the 2022 floods to USD 15 million, highlighting its sustained efforts to support communities following catastrophic climate events. To a question Bajwa said if needed, interest-free loans will also be provided by the Bank to needy people affected by the floods.

“At Bank Alfalah, we aspire to be more than a financial institution; we are a caring bank, and are deeply grateful to our Chairman and Board for this generous pledge which reflects our shared belief that rebuilding lives and strengthening climate resilience is the way forward for a sustainable Pakistan,” he remarked.

The newly announced funds will be channelled through a network of partners to restore infrastructure, rebuild livelihoods, and enhance resilience across impacted areas of Pakistan. The initiative includes a multi-input development programme focusing on housing, education, health, and climate-smart agriculture to support sustained rehabilitation, he explained.

Moreover, Atif Bajwa said that beyond its community outreach, Bank Alfalah has provided PKR 500 million in direct financial assistance to 479 colleagues, whose homes and assets were lost to the floods, demonstrating its internal culture of care.

The Bank’s new allocation comes amid the 2025 monsoon crisis that has hit Pakistan hard. According to UNICEF, 946 lives have been lost, including 255 children, and more than 1.5 million people have been displaced.

Copyright Business Recorder, 2025