The 2005 Aga Khan Agency for Microfinance Annual Report

COVER: EBRAHIM MOHAMMED, A TILE-MAKER, HAS TAKEN SEVERAL LOANS, STARTING WITH US$ 500 IN 2002, TO BUY MACHINERY ANDEXPAND HIS BUSINESS. HE NOW HAS SIX EMPLOYEES, ONE OF WHOM IS SHOWN POLISHING TILES WITH MACHINERY PURCHASED WITHA LOAN. “EVENTUALLY,” EBRAHIM SAYS, “I WANT TO SELL MY TILES ACROSS AFGHANISTAN.”