NPAK Energy Ltd, a subsidiary of Industrial Promotion Services (IPS), the economic and infrastructure improvement arm of the Aga Khan Fund for Economic Development (AKFED), invested $6m in these tasks. Project finance combines fairness, sustainable debt, and grants. An further $14m has been secured from improvement companions for the event of power infrastructure within the area.
Over the subsequent 5 years, NPAK Energy will mobilize extra investments in clear, sustainable sources of electrical energy all through Hunza and surrounding areas, addressing the area’s acute power deficit whereas contributing to world efforts. to cut back local weather change. The firm is dedicated to bettering public service supply by making a sustainable, self-reliant utility operation that promotes financial alternatives and job creation, and fashions an revolutionary and environment friendly public-private partnership that contributes to sustainable improvement.
About the Aga Khan Development Network in Pakistan
The establishments of the Aga Khan Development Network (AKDN) have been working in Pakistan since 1905. Today, they’re engaged in actions aimed toward bettering the general high quality of life within the areas the place AKDN works. Initiatives vary from rural improvement and monetary inclusion to superior medical analysis and entry to high quality schooling, assembly fast wants and investing in Pakistan’s future. AKDN applications are replicated in each province of Pakistan in addition to neighboring nations.
About the Aga Khan Fund for Economic Development
The Aga Khan Fund for Economic Development (AKFED) is a world improvement company devoted to selling entrepreneurship and constructing economically sound companies in elements of the growing world that lack ample overseas direct funding. It additionally makes daring however calculated investments in fragile and sophisticated conditions. It is a part of the Aga Khan Development Network.
Industry Promotion Services (IPS) is the infrastructure and industrial improvement arm of AKFED. IPS has invested in over 1000MW of energy era in Africa and Asia. Flagship energy tasks embody Pamir Energy, an built-in utility in jap Tajikistan, which has managed to increase entry to 24/7 clear electrical energy from 13 to 98 p.c within the Viloyati Mukhtori Kuhistoni Badakhshon Region, and the 250MW Bujagali Hydro Power Plant, situated in Uganda.
NPAK is the accomplice and affiliate firm of Industrial Promotion Services (IPS).
For extra data, please contact:
NPak Industrial Promotion Services (IPS), AKFED
Ramziya Muboraksheva, Head of Resource Mobilization and Strategic Partnerships (Asia), Industrial Promotion Services (IPS). Email deal with: [email protected]
AKDN Pakistan
Laila Naz Taj, Director of AKDN Pakistan Communications. Email deal with: [email protected]
