With northern Pakistan reeling from a devastating monsoon crisis that has claimed 946 lives and displaced more than 1.5 million people, Bank Alfalah has announced an additional USD 5 million commitment to support rebuilding efforts in the flood-ravaged regions.
According to a statement issued today, the pledge, equivalent to PKR 1.4 billion, was revealed by Atif Bajwa, the bank”s President and Chief Executive Officer, during a press conference held in the city.
Approved by the bank”s Chairman, Sheikh Nahayan bin Mubarak Al Nahayan, and its board of directors, this latest contribution elevates the institution’s total support for flood relief and rehabilitation since 2022 to USD 15 million.
‘At Bank Alfalah, we aspire to be more than a financial institution; we are a caring bank,’ said Atif Bajwa. ‘We are deeply grateful to our Chairman and Board for this generous pledge. It reflects our shared belief that rebuilding lives and strengthening climate resilience.’
The newly announced funds will be directed towards Punjab, Khyber Pakhtunkhwa, and Gilgit-Baltistan through a network of partner non-governmental organisations. The initiative is set to restore infrastructure and rebuild livelihoods.
A multi-input development program is central to the plan, concentrating on housing, education, health, and the implementation of climate-smart agriculture to ensure sustained community rehabilitation.
This year”s crisis exacerbates the challenges Pakistan has faced since the 2022 floods, which affected 33 million people. Despite extensive aid efforts, more than eight million individuals displaced by the earlier disaster continue to struggle with health and housing insecurity.
Following the 2022 catastrophe, the financial institution launched a USD 10 million response plan implemented in two phases for immediate relief and long-term rehabilitation across Sindh and Balochistan.
The new allocation arrives as the country”s northern regions are hit particularly hard. According to UNICEF figures, the 946 fatalities include 255 children, while flash floods and glacial lake outburst floods continue to devastate Gilgit-Baltistan.