Accelerating Prosperity is driving business growth in Pakistan and beyond

With over 4 years of dedicated effort, the Accelerate Prosperity project in Central and South Asia (AP Asia) – funded by the European Union (EU) and implemented by Accelerate Prosperity (AP) through the Aga Khan Foundation (AKF) has catalyzed entrepreneurship, transforming lives and businesses across Pakistan, Afghanistan, Kyrgyzstan and Tajikistan.

This pioneering initiative has supported more than 2,800 entrepreneurs in 1,904 businesses, with 29% women and 41% young people.

Supported businesses helped create 4,746 full-time equivalent jobs from 2020 to 2024, with women making up 38% and young people 48% of jobs. The project made a significant contribution to enhancing equitable economic opportunities for women and youth in both rural and urban areas of the four countries.

Founded by the Aga Khan Foundation (AKF) and the Aga Khan Fund for Economic Development (AKFED), Accelerate Prosperity (AP) as an initiative empowers entrepreneurs through innovative business models, mentoring and access to finance, promoting sustainable development in all operational geographies of . The AP initiative has led to the development of entrepreneurship and small businesses across Central and South Asia since its inception in 2016.

Speaking about the achievements of the project, Jeroen Willems, Head of Cooperation for the EU Delegation to Pakistan, said: “Pakistan and the countries of the region can contribute many talented young entrepreneurs. They can create jobs, promote innovation and stimulate growth It takes more than talent and bright ideas to turn startups into successful sustainable businesses. This is where EU support comes in.”

“With EU-funded programs like AP Asia, we can give a real push to unleash the full potential of start-ups by bringing together the talent and courage of young entrepreneurs with know-how and soft loans. A great example of being stronger together,” he added.

Akhtar Iqbal, Managing Director of AKF Pakistan, also emphasized the importance of such business interventions saying, “Partnerships like the AP Asia Project, supported by the European Union, are vital to promote sustainable economic development across the Central and South Asia By empowering entrepreneurs and facilitating access to key resources, we not only create job opportunities but also build resilient communities capable of leading for the long term development”.

“AP Asia is a testament to the power of collaboration to promote entrepreneurship and sustainable development. We are proud to have supported over 4,700 jobs during the project’s tenure, with 38% held by women and 48% by young people,” he added.

AP Asia’s achievements were celebrated at the AP Asia Dissemination Event, held at a local hotel in Islamabad. This gathering brought together leading stakeholders – including entrepreneurs, investors, politicians and development experts – to discuss innovative business solutions, regional trade and the future of business ecosystems in Central and South Asia.

Entrepreneurs from Afghanistan, Pakistan, Kyrgyzstan and Tajikistan shared personal stories of growth and innovation, demonstrating the transformative impact of AP Asia’s support.

A reverse discussion during the event captured the attention of the audience as it highlighted the challenges and opportunities of scaling startups in fragile economies. The Founder’s Circle session explored the experiences of female entrepreneurs in the entrepreneurship ecosystem and the importance of structured support for such business owners.

“With a growing, entrepreneurial and young population in Central and South Asia, there is huge potential for the region to emerge as a trade and investment hub. Through AP Asia and with the continued support of the EU we are committed to unlocking this potential and creating opportunities for young and fearless to test their business ideas,” said Najmuddin Najm, CEO of AKF Afghanistan.

AP Asia will explore future opportunities to replicate this successful model in other regions, promoting sustainable economic growth aligned with EU priorities.