The 2005 Aga Khan Agency for Microfinance Annual Report

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PROGRAMME PARTNERSAKAM is supported by many institutional, government and local partners across the world.Asian Development BankBanking With The Poor Network AsiaCanadian International Development AgencyCitigroup FoundationConsultative Group to Assist the PoorDepartment for International DevelopmentDeutsche Entwicklung Gesellschaft (DEG)Egyptian Social Development FundEuropean UnionGesellschaft für Technische Zusammenarbeit (GTZ)International Finance CorporationJapanese Social Development FundKreditanstalt für Wiederaufbau (KfW)Microfinance Investment Support Facility of AfghanistanNorwegian Agency for Development CooperationGovernments of:AfghanistanBurkina FasoEgyptKazakhstanKenyaKyrgyz RepublicMadagascarMaliMozambiquePakistanSyriaTajikistanTanzaniaZanzibarNorwegian FundPakistan MicroFinance NetworkThe MicroFinance NetworkThe World BankUnited Nations Development ProgrammeUnited States Agency for International DevelopmentUnited States Department of Agriculture44
FACTS AT A GLANCEFounder and Chairman:His Highness the Aga Khan,spiritual leader of the ShiaIsmaili Muslims and Chairmanof the Aga Khan DevelopmentNetworkSources of funding:His Highness the Aga Khan,grants, loans and contributionsfrom developmentagencies, private foundations,corporations and individuals.Board of Directors:His Highness the Aga Khan,Prince Amyn Aga Khan,Prince Rahim Aga Khan,Princess Zahra Aga Khan, IainCheyne, Thomas Kessinger,Luis Monreal, Shafik SachedinaOrganisation: Established inNovember 2004 in Geneva,Switzerland. Under Swiss law,AKAM is a private, not-forprofit,non-denominationalinternational developmentagency. It is part of the Aga KhanDevelopment Network, agroup of nine institutionsworking in health, education,culture, and rural and economicdevelopment, primarily in sub-Saharan Africa, South and CentralAsia and the Middle East.Staff: 888 worldwide. AKAMdevelops local human resourcesand capacity; the majority ofemployees are nationals oftheir countries.Mandate and goals:AKAM’s mandate is to alleviatepoverty, diminish the vulnerabilityof poor populations andreduce economic and socialexclusion. It aims to:• Help people become selfreliant and eventually gainthe skills needed tograduate into the mainstream financial markets;• Realize long-term sustainabilitythat covers costsand contributes toexpansion;• Reach out as broadly aspossible, in terms of bothgeographical coverage andrange of services offered;• Maximise impact onintended beneficiaries byensuring that resourcesflow primarily to the poorand the excluded.External Auditor:KPMG Switzerland45
Page 1 and 2: Aga Khan Agency for Microfi nanceA
Page 3 and 4: 2005CONTENTS25811151618203940444547
Page 5 and 6: 2005James Wolfensohn, Former Presid
Page 7 and 8: 2005THE YEAR IN REVIEWThe year 2005
Page 11: Afghanistan, they have supported re
Page 14 and 15: Aga Khan Education Services (AKES)
Page 17 and 18: OBJECTIVES AND PRINCIPLESThe underl
Page 19 and 20: initiative in microinsurance is see
Page 22 and 23: COUNTRY REVIEWSAKAM’s microfinanc
Page 24 and 25: of financial stability and have dev
Page 26 and 27: IN BURKINA FASO, AKFED'S SN-SOSUCOR
Page 28 and 29: development of enterprise, traditio
Page 30 and 31: KYRGYZ REPUBLICTHE PURCHASE AND REA
Page 32 and 33: MALIIn 2005, the Malian government
Page 34 and 35: a total of over US$10 million had b
Page 36 and 37: AKTC to help finance housing improv
Page 38 and 39: SMALL LOANS FOR FUEL AND TRANSPOR-T
Page 41 and 42: THE MICROINSURANCE INITIATIVEMicroc
Page 43 and 44: Balance Sheet 2005UNAUDITED CONSOLI
Page 45: Kyrgyz RepublicMozambiquePakistanSy
Page 50: THE IMAMATAGA KHAN DEVELOPMENT NETW

The 2005 Aga Khan Agency for Microfinance Annual Report

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