The highlights of 2023 were released by Bank Alfalah, a renowned commercial bank in Pakistan, during Phase 2 of its extensive reconstruction and rehabilitation project, which began with emergency rescue and relief in Phase 1 in 2022.
In an unwavering effort to support sustainable development and empower communities, the bank has partnered with 24 prestigious organisations. Approximately PKR 1.24 billion has been distributed to tackle vital areas such as emergency medical services, housing, education, healthcare, and livelihoods.
The Bank has launched a two-pronged strategy to redevelop communities in a sustainable, equitable, and financially inclusive manner under the visionary leadership of His Excellency Sheikh Nahayan bin Mubarak Al Nahayan, Chairman of Bank Alfalah. The bank generously donated $10 million to the devastating floods that hit Pakistan last year. The Board of Directors has also steadfastly supported this initiative. In addition to meeting urgent requirements, this programme offers a thorough structure for long-term rehabilitation.
Phase 1 involved working with reputable and trustworthy non-governmental organisations (NGOs) around Pakistan to provide urgent help with PKR 338 million. These collaborations made it easier to rescue and aid those affected by flooding in areas that were severely affected.
With a payout of PKR 902 million, the bank started phase 2 of its flood relief activities in 2023, concentrating on rehabilitation and life reconstruction. This stage included a number of important sectors, including healthcare, education, sustainable housing, and assistance for livelihoods.
Phase 2: PKR 468 million in healthcare provision
There is a significant commitment to healthcare and education, in addition to sustainable housing projects. A kind contribution of PKR 200 million has reinforced cooperation with the Aga Khan Foundation.
The Aga Khan Foundation seeks to improve household food security and resilience while accelerating agricultural livelihoods. In addition to boosting nutrition, it is also making health services more accessible to the community through mobile outreach programmes and health care delivery platforms.
A gift was made to the Patient Aid Foundation, which focuses on helping the underprivileged at Jinnah Postgraduate Medical Centre (JPMC) in Karachi. Communities affected by flooding that were going from the interior to Karachi were flooded. More than 720 people have received treatment thus far.
The Child Life Foundation is also at the forefront of patient care, having provided telemedicine services to 118,000 patients in areas affected by flooding. Other collaborators are Alamgir Welfare Trust, Hands, and Al-Mustafa Trust.
Providing sustainable housing and reviving a 375 million rupee livelihood
Reputable groups such as the Shahid Afridi Foundation, Bait-us-Salam, Sahil Welfare Trust, and Karachi Relief Trust are among the partners that Bank Alfalah has teamed up with to support climate resilience and meet the housing requirements of populations impacted by flooding. Throughout the year, the partner NGOs launched housing developments in Sindh and Balochistan. These partner NGOs include Baitussalam Welfare Trust, which finished 42 houses with utilities in Larkana, and Shahid Afridi Foundation, which handed over 75 dwellings in Sukhab, Balochistan. In addition, the Karachi Relief Trust is still building 394 homes in Rajanpur, Nawab Shah, Nowshero Feroz, and Sohbat Pur. The bank also disbursed funds to assist with the revival of flood-affected agricultural land.
A PKR 250 million provision for subsidised loans
Through its collaboration with Akhuwat, Bank Alfalah provides interest-free rehabilitation loans to assist flood-affected households. Over 900 recipients in all four provinces have received PKR 211 million to rebuild their destroyed homes. The maximum loan amount is PKR 300,000, and the maximum loan term is 4 years.
Provision of education support worth PKR 49 million
In keeping with its commitment to education, Bank Alfalah is working with The Citizen Foundation to reconstruct and renovate educational facilities in areas affected by flooding. TCF is developing a primary school for 180 children in Nawabshah. The project will be finished by June 2024, considerably ahead of the 2024–2025 deadline, and is presently at the substructure stage.
The Bank is bringing on new partner NGOs, Injaz Pakistan, Green Crescent Trust, and Vital Pakistan, to quicken the reconstruction process. These NGOs will prioritise financial inclusion and women’s empowerment. This will foster the growth of socioeconomically conscious communities that are prepared and driven to strive towards a secure and sustainable future.
