Karzai said at the opening ceremony that the foundation was not established for political purposes.
He said through the foundation, he will help the destitute young Afghans to carry on their higher studies.
“This is completely a non-political foundation,” said the ex-president. “It is only for youth’s education.”
He linked the current problems of Afghanistan to a lack of opportunities for youth’s higher studies.
In addition, he called on the citizens and the traders to contribute to the foundation.
Rangin Dadfar Spanta, Karzai’s then national security advisor, was also present at the event, saying the higher education sector saw significant improvements over the past decade.
He admitted however that still a large number of Afghan youth were left without carrying on with their higher studies.
“We established this foundation in order to help the youth and the talents who have been distanced from higher education,” Spanta said. “We want to provide them with opportunities of higher education.”