Qadamxeyir A. is 56 years old and a housewife. She’s been immersed in raising animals since her childhood and for that reason, she decided to remain in this industry. Qadamxeyir works very hard to obtain the income (150-200 AZN) that will satisfy her family’s needs. She sells her livestock to the local cafes and butchers. She is married and has three sons. She wants to buy more animals and, in this way, increase her income. For this reason, she applied for a loan of 800 AZN.
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.