Aman Foundation increases IBA grant by 20%

Earlier, Aman Foundation had committed to providing Rs1 billion for the construction of the 14-storey, state-of-the-art Aman Tower. PHOTO: FILE

Earlier, Aman Foundation had committed to providing Rs1 billion for the construction of the 14-storey, state-of-the-art Aman Tower. PHOTO: FILE

THE EXPRESS TRIBUNE, KARACHI, 05th OCTOBER 2013: 

Aman Foundation will increase its grant to the Institute of Business Administration (IBA), Karachi, by 20% to Rs1.2 billion for the development of Aman Tower at IBA’s city campus.

Aman Foundation CEO Ahsan Jamil and IBA Dean and Director Dr Ishrat Husain signed an agreement to this effect on Friday at the main campus of the country’s premier business school.

Earlier, Aman Foundation had committed to providing Rs1 billion for the construction of the 14-storey, state-of-the-art Aman Tower, which is going to house residential and educational facilities for IBA’s Centre for Executive Education, along with 18 classrooms, two seminar halls, faculty offices, a library, meeting and breakout rooms, cafeteria and other facilities.

Speaking on the occasion, IBA Director Finance Moeid Sultan thanked Aman Foundation for supporting IBA’s educational endeavours and the construction of Aman Tower, which is now visible from MA Jinnah Road, one of the city’s major arteries. “Once complete, it will be an icon in Karachi,” he said.

Citing the Aman Centre of Entrepreneurial Development (CED) building, which was recently constructed with the support of Aman Foundation on IBA’s main campus, Jamil said he was glad to be supporting IBA Karachi in providing an innovative blend of theory and practice for the business leaders of tomorrow.

Aman Foundation-sponsored Aman Centre on the main campus houses an IT infrastructure project and the CED, an institution dedicated to the promotion and development of entrepreneurial studies in Pakistan.

Dr Husain praised Aman Foundation for its continuing philanthropic support for IBA, which has provided both students and faculty with remarkable infrastructure facilities. “The infrastructural development of the multi-storey Aman Tower is just one aspect of my vision for the future of IBA Karachi, and there is still a long way to go,” he said.

“The immense support from Aman Foundation will be crucial for the growth of the institute, which is committed to providing excellence in education. Together we can produce the kind of leaders that the country needs,” he observed.

Aman Foundation was established in 2008 by Arif Naqvi, a private equity investor who set up the Abraaj group in the United Arab Emirates in 2002. Aman Foundation was set up with $100 million seed money to undertake innovative programmes in health and education sectors.

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