The Aga Khan Foundation is a
non-denominational, international development agency established in 1967 by His
Highness the Aga Khan. Its mission is to develop and promote creative solutions
to problems that impede social development, primarily in Asia and East Africa.
Created as a private, non-profit foundation under Swiss law, it has branches and
independent affiliates in 15 countries, including Pakistan.
AKF consists of two main wings i.e. Aga
Khan Development Network (AKDN) and Aga Khan Fund for Economic Development.
Founded and guided by His Highness the Aga Khan, the Aga Khan Development
Network (AKDN) brings together a number of development agencies, institutions,
and programmes that work primarily in the poorest parts of Asia and Africa. AKDN
is a contemporary endeavor of the AKF to realize the social conscience of Islam
through institutional action. AKDN agencies conduct their programmes without
regard to the faith, origin or gender.
The Aga Khan Fund for Economic
Development is essentially an international development agency that is geared
towards promoting entrepreneurship in the private sector in specific regions of
the developing world. AKFED primarily focuses on building economically sound
enterprises through strong equity participation combined with management and
technical expertise. AKFED has a proven track record of managing several
projects in a large number of sub-Saharan African and Central & South Asian
countries, including Pakistan.
AKFED grew out of financial
institutions founded by His Highness the Aga Khan's grandfather Sir Sultan
Mohamed Shah between 1930 and 1960, including the Jubilee Insurance Company and
Diamond Trust. Subsequently His Highness the Aga Khan then enlarged and expanded
the scope of these institutions. AKFED was formed in 1984 in order to bring
together industrial, tourism and financial services activities under a single
umbrella, enabling each to benefit from other institutions with a common
heritage and development ethos.
With controlling assets in excess of
(US$ 1.5 billion), AKFED operates as a network of affiliates with more than 90
project companies employing over 18,000 people worldwide. The fund is active in
18 countries in developing world: Afghanistan, Bangladesh, Burkina Faso, Congo,
Cote d'Ivoire, India, Kenya, Kyrgyz Republic, Madagascar, Mali, Mauritius,
Mozambique, Pakistan, Senegal, Syria, Tajikistan, Tanzania and Uganda. AKFED
also has affiliates in France and Canada that provide resources and support to
the Fund's activities in the developing world.
Working in partnership with other
private and international development institutions, government agencies and
industrial groups, AKFED promotes projects that must meet two essential
criteria; firstly, the projects must be economically viable and second, they
must make a significant contribution to national development. In line with its
strategy, AKFED has invested equity and contributed expert resources to build
efficient, productive and socially responsible enterprises such as the First
Micro Finance Bank Limited (in Pakistan) and the Kyrgyz Investment and Credit
In its support of new projects, AKFED
places greater emphasis on equity investment than on the provision of loan
finance. The investment is supplemented by technology transfer and technical
assistance, essential inputs in the development process. The strategy of
providing equity as opposed to debt is based on the premise that in case where
risk capital is involved, the level of investor commitment is higher and the
potential for success is greater. Apart from its own capital commitment, AKFED
also seeks foreign and local partners capable of contributing capital and
expertise in the projects with an objective to promote long-term growth of
national economics in the developing world. In this, regard, AKFED has joined
hands with International Finance Corporation, CDC Group plc, Deutsche
Investitions - und Entwicklungsgesellshaft, European Bank for Reconstruction and
Development, Agence Franchise De Development, Proparco, and the World Bank in a
number of projects around the developing world.
Under this programme following
organizations are operating in Pakistn.
FIELD OF ACTIVITY
Industrial Promotion Services (Pakistan)
Tourism Promotion Services
Tourism promoter, hotel owner & manager.
Chain of Serena Hotels comes under this category.
Habib Bank Limited
New Jubilee Insurance Company Limited
Commercial Union Life Assurance Co. (Pakistan)
The First Micro Finance Bank Limited
In the first week of December 2005, His
Highness the Aga Khan, during his visit to Pakistan, announced plans for a major
expansion of the Islamabad Serena Hotel. The announcement was made at a
presentation by Tourism Promotion Services, which was also attended by the Prime
Minister, Shaukat Aziz. The cost of the project is estimated at more than US $
50 million and is expected to be completed in two years.
Explaining the objectives of the Serena
Hotel, the Aga Khan said that Tourism Promotion Services pays particular
attention to tourism as an economic model, which not only supports foreign
exchange earnings but also has an accelerator effect through increased
employment at the hotel and throughout its supply chain. He added that Tourism
Promotion Services plans to encourage tourism circuits in Pakistan by promoting
and linking the Serena facilities in the country - Faisalabad, Quetta, Swat,
Hunza and Gilgit - as well as in the region and internationally across Serena's
units in Afghanistan, Tajikistan, Tanzania, Kenya, Uganda, Zanzibar, Mozambique
and the planned units in Syria.
Under Aga Khan Development Network (AKDN)
programme following projects have been launched in Pakistan.
AGA KHAN UNIVERSITY (AKU)
Aga Khan University (AKU) provides post
graduate training to health service professionals, teachers and managers of
schools, and the development of research scholars. It was granted charter in
1983 as Pakistan's first private autonomous university. It also provides higher
education and develops research pertinent to Pakistan and the developing world
at internationally accepted academic standards. Its overall mandate is to
promote the welfare of the people of Pakistan and other developing countries.
AKU's Faculty of Health Sciences was
planned with the support of Harvard, McGill and McMaster universities. It
presently includes a Medical College and School of Nursing, which are located
together with their principal teaching site, Aga Khan University Hospital, on an
84-acre campus in Karachi.
AKU is rapidly becoming an
international university in response to the mandate of its charter, establishing
teaching programmes in Pakistan as well as abroad. At the request of regional
governments in East Africa, and with the assistance of institutions within the
Aga Khan Development Network, AKU has initiated nursing and teacher education
programmes in Kenya, Tanzania and Uganda and is in the advanced stages of final
accreditation by the authorities in these countries.
AGA KHAN HEALTH SERVICES (AKHS)
With five general hospitals, seven
maternity homes/hospitals and 187 health centers/dispensaries, diagnostic center
and community health outlets, the Aga Khan Health Service, Pakistan (AKHS,P) is
one of the most comprehensive private not-for-profit health care systems in the
developing world. Building on the Ismaili Community's health care efforts in the
first half of the 20th century, AKHS now provides primary health care and
curative medical care in India, Pakistan, Kenya, Tanzania and Syria.
AGA KHAN EDUCATION SERVICES (AKES)
Several of the academic institutions of
AKES in Pakistan date back to the 19th century. The first school, still
operational today, was established in 1905 in Gwadar, which is still in
operation today. The network operates 185 schools in Pakistan. The mission of
the AKES,P is to support educational development, competence, and merit through
the provision of quality educational services that are both equitable and
AGA KHAN PLANNING AND BUILDING SERVICES
The Aga Khan Planning and Building
Services (AKPBS) works to improve the built environment, particularly housing
design and construction, village planning, natural hazard mitigation,
environmental sanitation, water supplies, and other living conditions. AKPBS
achieves these goals through the provision of material and technical assistance
and construction management services for rural and urban areas. AKPBS plans,
organizes, and finances activities and operates facilities and programmes in
close collaboration with other AKDN institutions, government agencies and
selected external partnering agencies.
The Aga Khan Development Network has
been heavily engaged in providing humanitarian relief and support in the
earthquake affected areas working in close partnership with the Pakistan
government, UN organizations, bilateral and multilateral agencies, involving
more than 1,000 staff and volunteers.
In addition, on October 10, 2005, His
Highness the Aga Khan announced that the AKDN is making an initial contribution
of Rs. 30 million (US $500,000) in support of the relief assistance being
provided by the government which was matched by Habib Bank Limited, owned by the
Aga Kha, with a further Rs. 30 million (US$500,000) donation towards the
President's Emergency Relief Fund.
Focus Humanitarian Assistance, an AKDN
affiliate, was among the first local agencies to deploy search and rescue teams
alongside with the British RAPID Force team initially at Margalla Towers, in
Islamabad, and then to Muzaffarabad and surrounding areas. FOCUS has carried out
evacuation and relief operations in more than a dozen locations in AJK and NWFP,
including some of the most remote and difficult to access areas. Managed by the
Aga Khan Foundation, 4 AKDN helicopters, two of which have been deployed to
Pakistan from their base in Central Asia, have carried out more than 1000
sorties, carrying more than 820 metric tons of relief and medical cargo for
about 85,000 people, over 4,300 passengers (including villagers requiring
evacuation and relocation, government officials, army personnel, aid workers,
medical staff, and international diplomatic officials). They have delivered
relief goods including 1,150 tents, and more than 23,000 blankets, and have
evacuated more than 1,100 casualties from vulnerable locations.
The Aga Khan University, the Aga Khan
University Hospital, and the Aga Khan Health Service, have provided emergency
medical services, including specialized trauma surgery, mass vaccinations, and
trauma counseling. Emergency training in basis nursing, life support, medical
and psychiatric support has also been provided. More than 80 doctors, including
physicians, surgeons, pediatricians, anesthesiologists, and other medical
specialists are working in the disaster areas. Furthermore, 40 nurses, and teams
of medical technicians, field officers, and medical students have been deployed
in the disaster areas of AJK and NWFP to facilitate with the relief work.
Medical and surgical supplies continue to be provided and are regularly