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5 unusual facts about Aga Khan Fund for Economic Development


Aga Khan Fund for Economic Development

Its major investments include the Financial Services, Industrial Promotion Services (IPS) and Tourism Promotion Services (TPS).

In Uganda, a new airline, Air Uganda, formed in 2007, fills a void that has been vacant since the national airline, Uganda Airlines, collapsed in 2000.

Under the brand name Serena, TPS constructs and maintains a multitude of resorts, hotels and other tourist attractions that serve to stimulate local economic growth through increased employment, development of a skilled workforce, increased productivity of local businesses (particularly in the design and craft spheres) and the general development of given areas.

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.

AKFED’s first telecommunications initiative is known as Indigo, a GSM mobile phone project based in Tajikistan.


Aga Khan Development Network

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.

Celestair

Celestair Group represents an alliance of three airlines under the Aga Khan Fund for Economic Development, AKFED, and benefits from technical and operative support from other airlines owned by the Aga Khan, such as Meridiana and Eurofly of Italy.

HBL Pakistan

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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