On Tuesday April 23, the Resident Representative of the Aga Khan Development Network in Tajikistan (AKDN Tajikistan) Qozidavlat Qoimdodov met here with Mr. Galeb Gulam, the newly appointed Global Head of the IPS (Industrial Promotion Services) group of companies of the Aga Khan Fund for Economic Development (AKFED).  The meeting was held in the AKDN Office.  

Press release issued by the AKDN Office in Tajikistan notes that during this meeting, the parties emphasized the possibilities of bilateral cooperation in the economic sector, especially in the field of agro-industry, communications, small and medium-sized enterprises, and expressed their readiness to expand this cooperation.

It was noted that the IPS program was opened in Dushanbe at the initiative of AKDN Tajikistan and with the support of AKFED.  Today, this office is analyzing the economic sector, and we hope that they will present new proposals on the development of economic fields.

At the end of the meeting, the parties expressed their readiness for bilateral cooperation.

IPS today has a robust portfolio and footprint with growth in size, diversity, regions, and sectors and has made strides in the environment and climate space, in line with AKFED guidelines.  In Tajikistan, within the framework of AKFED the Indigo (Tcell), First Micro-Finance Bank, Pamir Energy Company, Dushanbe Serena Hotel and the “Accelerate Prosperity” program have been working.

The Aga Khan Fund for Economic Development (AKFED) works with governments, international corporations, international financial institutions and donors to create solutions to pressing infrastructure needs, including power generation and telecommunications.

AKDN set up a group of companies under the corporate name Industrial Promotion Services (IPS) in the early 1960s.  Each company was created to provide venture capital, technical assistance and management support to encourage and expand private enterprise in countries of Sub-Saharan Africa and South Asia.  Following growth, privatization and a re-orientation away from import substitution and towards export promotion, we adjusted our approach.

In Sub-Saharan Africa, IPS expanded into areas such as agribusiness, packaging, pharmaceuticals and infrastructure.  They made new investments in the emerging economies of Central Asia in the 1990s and 2000s, particularly in Tajikistan and Afghanistan.  Today, IPS companies play a vital role in local and regional economies.