The Aga Khan Fund for Economic Development with its affiliates, the Tourism Promotion Services, Industrial Promotion Services, and Financial Services, seek to strengthen the role of the private sector in developing countries by supporting private sector initiatives in the development process.
On 13 June 2002, Pakistan's Privatization Commission announced that the Government of Pakistan would grant the Aga Khan Fund for Economic Development (AKFED), a subsidiary of the Aga Khan Development Network, majority ownership of HBL against an AKFED's investment in the bank.
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Aga Khan Fund for Economic Development (AKFED) is one of eight agencies operating under the direction of the umbrella organization, Aga Khan Development Network (AKDN), founded and Chaired by His Highness the Aga Khan.
The Aga Khan Trust for Culture (AKTC) is an agency of the Aga Khan Development Network (AKDN), a family of institutions created by His Highness the Aga Khan with distinct yet complementary mandates to improve the welfare and prospects of peoplein countries of the developing world, particularly in Asia and Africa.