M. Allahverdi Khangulu Oglu is a local farmer from Beyler village of the Saatli region. He has a big family: his wife, 4 children and his parents. Animal husbandry is the only income source for the family, besides pensions received by his elderly parents. His business is very small and he keeps only milking cows. So he decided to improve his business by having a new product – calf breeding for meat production. To realize this idea, he requested from “Agroinvest” 700 USD for purchasing young calves and feed.
Aqroinvest Credit Union was founded by a group of 32 Imishli farmers in 2001, and has grown to become one of the largest credit unions in Azerbaijan. It boasts a portfolio of nearly $5 million and is wholly owned by its more than 3,500 borrowers, as of December 2011.