Khalilova Y. is a 50-year-old woman who sells men's clothes in a small village of Agsu city. She started her business in 2010 and her monthly profit is already 150-200 AZN. She is very successful in her business as she has very good taste in choosing men's clothes. She is married and has six children. Y. started her business because she went on a pension in 2009 and lost her only source of income. She believes that one day she could build her own shop.
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.