Aga Khan IV - Massachusetts Institute of Technology Commencement Ceremony, ‘Encounters’ (Cambridge, USA)

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1 Sahil Badruddin = ""AKFED [is] neither a charitable foundation, nor a vehicle for the personal wealth of the Ismaili Imam of the time. It is a for-profit, international development agency that, because of its institutional background and social conscience, invests in countries, sectors and projects, on criteria far different from those of a straightforward commercial investor. Investment decisions are based more on the prospects for better lives for the constituencies of people that will be impacted by the investments and their results rather than on bottom line profitability. AKFED does seek to generate profits, but they are entirely reinvested in future development initiatives….The approach of the Imamat has always been to respond to the development challenges and priorities of the countries in which it is engaged…. It has often meant taking courageous but calculated steps to create opportunity in environments that are fragile and complex at the same time. For AKFED, this has frequently meant giving a lead where others might have feared to tread."-Aga Khan IV"