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Aga Khan to set up bank in Afghanistan - 2002-03-12

Tuesday, 2002, March 12

Prince Karim Aga Khan has said he was considering to open a micro finance bank, and take part in other welfare activities in Afghanistan to help alleviate poverty from that country.
Speaking at the inaugural ceremony of first Micro Finance Bank, set up by the Aga Khan foundation in Pakistan, he said here on Monday that a similar bank would be established in Afghanistan owing to growing poverty and other economic problems being faced by the Afghan government.
He said the bank would strive for removing poverty from Pakistan by taking part in the sustained economic uplift. 'We must be able to build sound future for the underprivileged in Pakistan', he added.
Aga Khan said branches of the Bank would shortly open in Rawalpindi and Karachi, to extend small loans to the poorest of the poor of in society. 'Over the next few years, our foundation will also set up a Housing Finance Bank in Pakistan', he said adding that he was happy to note that international donor agencies were extending all their possible financial assistance to help set up micro finance banks both in the public and the private sector.
'President Musharraf's government is providing an enabling environment for the increased economic and business activities', he added.
He said there required a commitment and public support to make micro finance bank a success story. Aga Khan urged a need to create proper infrastructure for education and health to adequately look after these two important sectors. 'I extend the fullest support for a brighter future of Pakistan and the Ummah.'

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