Cattle farming is an economic activity dedicated to the raising of animals in order to generate revenue from the animals and the products they provide. Elshad H. has earned a living from raising cattle since he was young. He's married and has two children who, according to Elshad’s words, are his reason for living. It should be said that the low incomes available to people in this rural area aren't enough to maintain a family and, for this reason, Elshad works enormously hard to provide a better standard of living for his wife and children.
Elshad urgently needs to buy animals such as cows and baby calves. He's applied for a loan of 1000 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.