Urban Forestry: Bank Alfalah Partners with KMC and IET to Expand Green Spaces in Karachi
Bank Alfalah launches an urban forestry initiative at Ibn-e-Qasim Park with an initial PKR 3 million investment and unveils its latest sustainability report highlighting green and SME financing.
Bank Alfalah officials sign an agreement to launch an urban forestry project at Ibn-e-Qasim Park in Karachi.
KARACHI: Urban Forestry received a major boost in Karachi as Bank Alfalah partnered with the Karachi Metropolitan Corporation (KMC) and Indus Earth Trust (IET) to launch a new urban forestry project at Ibn-e-Qasim Park in Clifton. The bank committed an initial investment of PKR 3 million to support the city’s expanding green infrastructure.
The initiative officially began with the signing of a Memorandum of Understanding (MoU) between Bank Alfalah and Indus Earth Trust. Bank Alfalah President and Chief Executive Officer Atif Bajwa signed the agreement alongside Indus Earth Trust Chief Executive Officer Aijaz Ali Abro during the launch ceremony.
Speaking at the event, Atif Bajwa said the partnership reflects a shared commitment to building a greener and more sustainable Karachi. He described parks as the lungs of every city and stressed that Karachi needs more green spaces to improve environmental resilience and public well-being.
Khawaja Asif criticises Fazlur Rehman over remarks on soldiers’ sacrifices
He added that Bank Alfalah remains committed to supporting projects that strengthen urban ecosystems while creating healthier communities for future generations.
Afia Salam, President of Indus Earth Trust, said the initiative highlights the value of collaboration between the public and private sectors. She noted that the project will promote ecological restoration by planting native species and encouraging community participation in environmental conservation.
During the ceremony, Bank Alfalah also unveiled its fourth Annual Sustainability Report, outlining the bank’s progress in sustainable finance. The report revealed that the bank has provided PKR 24 billion in green financing and PKR 75.2 billion in financing for small and medium-sized enterprises (SMEs), reinforcing its commitment to sustainable economic growth and environmental responsibility.
The urban forestry initiative marks another step toward improving Karachi’s green landscape while supporting long-term climate resilience through partnerships between financial institutions, civic authorities, and environmental organizations.
