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AGA KHAN OPENS FIRST MICROCREDIT LENDER IN TAJIKISTANAGA KHAN OPENS FIRST MICROCREDIT LENDER IN TAJIKISTAN - 2004-07-09

Posted February 25th, 2010 by heritage
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Go To News Event: 
TAJIKISTAN: AGA KHAN OPENS BANK, COMISSIONS BRIDGE, LAY FOUNDATION FOR UNIVERSITY</I> - 2004-07-06
Date: 
Friday, 2004, July 9
Location: 
Source: 
www.eurasianet.org/resource/tajikistan/hypermail/news/0006.shtml
Author: 
Sophie Mathiaut

Prince Aga Khan IV, the spiritual leader of the Ismaili movement, opened the first microcredit bank in Dushanbe on 5 July, Asia Plus-Blitz reported. Noting that the bank is intended to combat poverty in Tajikistan, Prince Aga Khan said that it will have an investment fund of $3 million and will provide loans to small businesses at 18 percent annual interest. The bank is only the third of its kind in the region; others are located in Afghanistan and Pakistan. Prince Aga Khan also met with Tajik President Rakhmonov on 5 July, Tajik Radio reported. The Aga Khan Development Network (AKDN) has worked in Tajikistan since 1993. According to Asia Plus, AKDN provided Tajikistan with $32.3 million in assistance last year. DK

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