Prince Aga Khan IV, the spiritual leader of the Ismaili movement, opened the first microcredit bank in Dushanbe on 5 July. Noting that the bank is intended to combat poverty in Tajikistan, Prince Aga Khan said that it will have an investment fund of $3 million and will provide loans to small businesses at 18 percent annual interest. The bank is only the third of its kind in the region; others are located in Afghanistan and Pakistan. Prince Aga Khan also met with Tajik President Rakhmonov on 5 July. The Aga Khan Development Network (AKDN) has worked in Tajikistan since 1993. According to Asia Plus, AKDN provided Tajikistan with $32.3 million in assistance last year. (Asia Plus-Blitz)