Nemat J. is a 35 year old man who breeds cattle in the small village of Saatli city. He is married and has three children. Nemat has 3 years experience in this field. Currently he has three cows and his wife actively helps him. He sells milk and milk products to the local people but demand for milk products is higher than his cows can produce and this has pushed Nemat to purchase more cows to generate more milk. Nemat he has applied for a loan of 1000 AZN to purchase more cattle. This will allow him to increase his profit and improve the living conditions of his family.
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.