Education is the most important inheritance Kamala M. and her husband can give to their two dear daughters. They are both very responsible parents, and they work very hard in agriculture and farming so that they can give their children the opportunity to finish school – an opportunity they never had due to poor finances. This happy mother has been working in agriculture since getting married and, with the unconditional support of her husband she buys and sells cattle in order to cover the family’s most urgent needs. Even so, she now finds herself with more expenses, and she would like a loan of 1200USD in order to increase their capital by increasing their number of cattle.
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.