“Poverty is a problem whose import is ignored at great peril. Perhaps the greatest lesson of the tragedy of conflict that has recently engulfed this region is the need to attack its true roots. These lie not in religion or in corruption, but rather in deprivation, poverty, exclusion and lack of opportunity - and therefore hope.”
His Highness the Aga Khan speaking on the occasion of the inauguration, conducted by President Pervez Musharraf in Islamabad, of the First MicroFinanceBank Ltd., Pakistan’s first private financial institution dedicated to addressing the problems of endemic poverty
The Aga Khan and Chairman Karzai Sign Agreement for Development in Afghanistan
The Aga Khan and Mr. Hamid Karzai, Chairman of the Interim Authority of the Government of Afghanistan, signed an Agreement of Cooperation for Development, which establishes an operating framework for the Aga Khan Development Network in Afghanistan. The Agreement, the first of its kind signed by the Interim Authority, enables the Network to move from the provision of humanitarian assistance to the establishment of long-term development programmes similar to those that have been successfully implemented in India, Pakistan, Tajikistan and other countries in Asia and Africa. The Aga Khan also announced a grant of US$2 million to enable the Loya Jirga Commission, which is mandated to help create a future representative government for Afghanistan, to complete its work. For more information, please see the press release.
AKDN Contributes Rs. 500 million to Launch of Microcredit Bank in Pakistan
The First MicroFinance Bank Ltd., Pakistan’s first private financial institution dedicated to addressing the problems of endemic poverty, was launched with a capital infusion of Rs.500 million contributed by the Aga Khan Rural Support Programme and the Aga Khan Fund for Economic Development. The Aga Khan Rural Support Programme’s highly successful microcredit and savings initiative has been serving some of the country’s poorest populations since 1982. Institutions of the Aga Khan Development Network have provided financial services for more than sixty years through a range of entities from small savings and microcredit organisations to major commercial banks and insurance companies listed on national stock exchanges in Asia and Africa. For more information, please see the press release and an earlier release: "Aga Khan and Musharraf Discuss Regional Issues".
Investment in Tourism Sector by Aga Khan Fund for Economic Development in Pakistan and Mozambique
The Aga Khan Fund for Economic Development, an agency of the Network that is mandated to promote entrepreneurship in the private sector of developing countries, has recently made two significant investments in the tourism sector. In Pakistan, the inauguration of the Islamabad Serena Hotel by President Pervez Musharraf marked a US$29 million investment in Pakistan’s economy. For more information, please see the press release. The Fund also invested in the landmark Polana Hotel in Maputo, Mozambique. The hotels are expected to not only contribute to the generation of foreign exchange, but also have an economic impact on sectors as diverse as agriculture, light industry, handicrafts, construction, furniture and textiles. For more details about the Polano Hotel investment, please see the press release.
Volunteers Raise Money for Development Projects through Partnership Walks
The World Partnership Walks, which take place in Canada, Portugal, the United Kingdom and the United States, raise funds for Aga Khan Foundation (AKF) projects in Africa and Asia. The entirely volunteer-run walks have raised millions of dollars for the funding of early childhood education, health care improvements, rural development and NGO-enhancement programmes. For more information about the Partnerships Walks in Canada and the United States, click on the following: Canada, United States, Portugal and the United Kingdom (the UK's Partnerships Walk website will be posted later).
Trust Supports On-line Community of Architects, Planners, Urban Designers, Landscape Architects, and Scholars at ArchNet.org
ArchNet is an online community - created with the financial and creative support of the Aga Khan Trust for Culture - for architects, planners, urban designers, landscape architects and scholars. Developed at the Massachusetts Institute of Technology, the site continues to grow and now has over 10000 images documenting both the historical and contemporary built environment in the Islamic world. In addition, over 1700 publications compliment the project images in the ArchNet Digital Library. Currently, there are over 4000 members. Group and Institutional Workspaces allow a growing community to collaborate and share resources and knowledge. For more information, visit ArchNet.org. To become a member, sign up at the member registration page.
© 2007 The Aga Khan Development Network. This is the only authorised Website of the Aga Khan Development Network.