The award was given away on Friday in Kajan, republic of Tatarastan for the Arcadia Education Project in South Kanarchor of Bangladesh.
The project involved construction of a school in an area which is under water during the monsoon months.
The architect of the project Saif Ul Haque designed a school which remains on the ground during dry season and floats when the area is submerged in water during monsoon.
He utilised only the local material-bamboo, used tyres and steel drums for constructing the amphibious structure for school.
The workforce and artisans for the project were also drawn locally.
The Aga Khan Foundation in its citation lauded the project for its contribution to improve people’s lives, social and economic development, access to education in rural communities and global issues like rising water levels.
Five other projects from other countries were also given the award.