Islamabad: British High Commissioner Jane Marriott on Monday welcomed the signing of a $50 million climate finance facility between British International Investment (BII) and Bank Alfalah, describing it as an important example of how the United Kingdom and Pakistan can work together to tackle climate change while promoting sustainable economic development.
The $50 million senior term loan facility was signed at BII’s headquarters during London Climate Action Week by Bank Alfalah President and Chief Executive Officer Atif Bajwa and BII Chief Executive Officer Leslie Maasdorp in the presence of the British high commissioner.
Marriott said Pakistan remains highly vulnerable to climate change but also has significant potential to attract investment that supports a greener and more climate-resilient future.
She noted that the partnership demonstrates the shared commitment of the UK and Pakistan to addressing the climate crisis through sustainable investment. Under the agreement, Bank Alfalah will utilise the financing facility to expand lending for eligible climate-related projects across Pakistan, helping businesses invest in cleaner technologies and sustainable solutions, including climate-smart agriculture and efficient water irrigation systems.
