Acumen Fund announces first energy investment in Pakistan
Thursday, May 16, 2013
Acumen, a pioneering non-profit global venture firm addressing poverty across Africa and in South Asia, on Monday announced its first investment in the growing rural energy sector of Pakistan.
Acumen is giving a loan of Rs 86 million to Aga Khan Rural Support Program (AKRSP) to support the creation of four community managed micro-hydel units in Chitral district of Khyber Pakhtunkhwa province in Pakistan. These plants will provide 24-hour clean electricity to remote off-grid communities in Chitral district, a region with limited access to electricity.
“There is a growing need for reliable power in Pakistan’s rural communities right now,” said Acumen Fund Pakistan Country Director Farrukh H Khan. “AKSRP’s community-based model has the potential to provide millions with access to an important basic service and revolutionise the way poor Pakistanis access energy.”