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Aga Khan Fund for Economic Development The state of the art Dushanbe TAJIKISTAN Serena Hotel supports Tajikistan’s efforts to become a more viable and friendly destination for visitors, ultimately translating into improved economic activities in the country and increased availability of trained manpower. Partners Over 600 people were employed In line with AKFED’s objectives, the during the Dushanbe Serena’s Inn is fully staffed by local residents. Government of Norway Government of the Swiss Confederation construction and approximately In order to promote cultural awareness (SECO) 200 are employed for the hotel’s of the surrounding regions, it sells International Development Association (IDA) operation, with a focus on hiring handicrafts manufactured by the International Financial Corporation (IFC) TeliaSonera from the local population at all levels local community and also organises World Bank of the organisation. In an effort to performances of traditional music. develop local management ability, employees will be provided extensive TPS projects have and will continue to Aga Khan Fund for Economic Development training in hotel management and will contribute to Tajikistan’s economic growth be exposed to other Serena hotels in an environmentally and culturally globally for on-the-job training. sensitive manner. With the opening of the The Aga Khan Fund for Economic PamirEnergy distribution facilities of GBAO for a Dushanbe Serena Hotel, TPS is further Development (AKFED) is an 25-year concession period. Since then, Following the collapse of the Soviet Operational since 2002, the six-room enhancing its support to Tajikistan by international development over US$ 37 million has been invested Union in 1991 and the ensuing five- Khorog Serena Inn was Tajikistan’s increasing tax and foreign exchange agency dedicated to promoting by the company to repair the electrical year civil war, Tajikistan’s electrical first hotel built at international revenues, improving the availability of private initiative and building infrastructure of the region and expand infrastructure required significant standards of quality. The roof of the trained manpower, providing employment economically sound enterprises in hydroelectric capacity. Looking ahead, investment. Among the most affected Inn and pillars inside the lobby are to local residents and promoting the the developing world. it is anticipated that US$ 50 million will For further information areas was the Gorno-Badakhshan inspired by the design of a Pamiri products of local vendors. be invested in electrical infrastructure The Fund is making long-term Autonomous Oblast (GBAO) region. by 2027 producing for the region a total Aga Khan Fund for Economic Development house, while the interior also reflects Economic and human development 137 Rudaki Avenue local culture. More broadly, by offering high quality investments in Tajikistan as part of an economic benefit of US$ 85 million. in the region was stifled during the Tojikmatlubot, 4th Floor accommodations for tourists and effort to catalyse foreign investment 734003 Dushanbe and strengthen the role of the private cold winter months when schools, Following its rehabilitation efforts to Tajikistan The Inn caters to the needs of business travellers, Serena projects will health centres and small businesses date, over 85 percent of the population Tel: +992 37 2246565 Government dignitaries, diplomats, support Tajikistan’s efforts to become sector in the country while building were forced to close due to a lack of Fax: +992 37 2246565 NGOs and tourists in the GBAO region, a more viable, friendly and comfortable essential infrastructure. Its approach of GBAO now has access to electricity. emphasises the development of local electricity for heating. Most residents of the city of Khorog Aga Khan Development Network providing a fully equipped business destination for visitors, which ultimately human resources over time, including are enjoying 24 hours of power a day 8-10 Gani Abdullo Street centre and a restaurant offering local will translate into improved economic AKFED, in partnership with the 734003 Dushanbe, and international cuisine. An expansion activities in the country. managerial, technical, marketing and for the first time since the end of the Tajikistan International Financial Corporation of the Inn is currently being planned to financial skills. Soviet era. The company has increased Tel: +992 37 2246500/2246508 (IFC), formed the PamirEnergy the installed capacity of its hydropower Fax: +992 37 2510066 meet the growing demand for quality AKFED’s current investments in company in 2002 to address the Website: www.akdn.org accommodations in Khorog. plants from 33 Megawatts (MW) in 2002 Tajikistan are in the sectors of energy, situation. Under a public-private to 43.5 MW. telecommunications, and tourism; they partnership agreement signed with include the PamirEnergy company, Tcell the Government of Tajikistan in A pioneering subsidy scheme makes (formerly Indigo Tajikistan) and Tourism 2002, the company is managing all the electricity produced by PamirEnergy The Aga Khan Development Network (AKDN) is a group of private development agencies working to empower communities and individuals, often in Promotion Services. power generation, transmission and affordable to residents and financially disadvantaged circumstances, to improve living conditions and opportunities, especially in Africa and Asia. Its agencies work in over 30 countries for the common good of all citizens, regardless of their gender, origin or religion. Its underlying impulse is the ethic of compassion for the vulnerable in society. © AKDN, January 2012. Information contained in this brief can be reproduced with acknowledgement to AKDN. Photo credits: AKDN/Jean-Luc Ray, Gary Otte, Tcell Tajikistan AGA KHAN DEVELOPMENT NETWORK www.akdn.org transparency and best business Each Serena property is carefully “AKFED, in turn, seeks to use its PamirEnergy has doubled the practices amongst other companies built to harmonise with local culture resources in a highly strategic way installed capacity at the Pamir I operating in the country. Tcell received and heritage and to reflect the – by building up sectors which will the award “Best Tax Payer of the Year” architectural styles of the region so power plant, enabling most of the have a strong and swift impact on plant’s Khorog customers to have in 2009 and 2010. that it promotes awareness of these elements amongst travellers. the national economy. Its record is electricity 24 hours a day for Through investments like Tcell, AKFED one of creating sound enterprises the first time since the end of aims to create more employment The Dushanbe Serena Hotel, a five- in places and sectors where private the Soviet era. opportunities in higher-skilled segments star hotel with over 100 rooms and investors often fear to tread and of Tajikistan’s economy and to build apartments and a project cost of over where management experience is local management ability. All of Tcell’s US$ 55 million, opened its doors to frequently in short supply. We adapt employees – more than 500 – are guests in 2011. to these challenges by bringing local residents. In line with AKFED’s philosophy, Tcell also seeks to The site of the Serena Hotel is centrally knowledge and technical capacity to PamirEnergy’s rehabilitation efforts viable for the company. One such and coverage outside urban areas was welcome rather than discourage mobile located on Rudaki Avenue, the main create a positive ripple effect across have included: subsidy ensures that a minimum “lifeline” almost non-existent, forcing residents service competitors in the country boulevard through the city close to the national economy. monthly supply of power is provided to in rural districts to line up for hours at and to expand telecommunications Government and civic buildings and all households served by PamirEnergy scattered land-line stations in order to coverage into Tajikistan’s rural areas, a 10-minute drive from the city’s The future Dushanbe Serena Hotel • Installing an additional two even if these regions are not profitable international airport. The Dushanbe at a rate of US$ 0.25 / kilowatt-hour, communicate with others. will, I believe, reflect that ethic by turbines and generators at one of the lowest rates in the world. in the short term. Serena Hotel has been designed by contributing significantly to stability Pamir I, the company’s main The subsidies are made possible by In 2001, AKFED partnered with MCT the renowned architects and interior design firm Le Groupe ARCOP based and prosperity in this region. generating facility, thus increasing generous grants from the Government to launch the “Indigo Tajikistan” mobile Tourism Promotion Services the plant’s installed capacity from of the Swiss Confederation (SECO) telephone company in Tajikistan as in Montreal, Canada. The hotel follows As this site is developed, it can High-quality tourism infrastructure is Serena’s successful design standards, 33 MW to 43.5 MW. and by the Government of Tajikistan part of an effort to improve service and both draw on and feed a positive through financing by the International spur competition in the country’s mobile largely underdeveloped in Tajikistan. reflecting Tajikistan’s rich cultural investment climate.” Development Association (IDA), a services industry. In March 2010, the Due in part to instability and insecurity heritage enveloped in a modern glass • Creating a retention structure member of the World Bank Group. company announced the change of its in
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