Konul A. is 35-year-old woman who sells perfumes in the village of Imishli. She is a widow and lives with her parents. Konul has worked in her shop since 2005. She rents her space and purchases all her goods from the city of Baku, 3 hours away from her home town. Konul is applying for a $2000 loan to diversify the goods she sells. Let's do our best to help this hardworking woman.
Aqroinvest Credit Union was founded in 2001 by a group of 32 farmers from Imishli. It has since grown to become the largest credit union in Azerbaijan, owned by its more than 5,400 borrowers and boasting a portfolio of nearly US$12 million.
AqroInvest is focused on providing loans to the following groups of people: rural farmers, people living in distant southern villages with little or no access to finance and internally displaced people and refugees, many of whom lost their homes and livelihoods during the violent conflicts in the 1990s.
In May 2011, Aqroinvest started a new project with Kiva proving higher education loans to students. The project gives students the support and financing they need to continue their education and helps pay for tuition fees at various universities in Azerbaijan. Aqroinvest is the first credit union in the country to offer students loans.