Khudakarim R. is 52 years old and a hard-working man who lives in Agsu. He lives with his wife and three children; one daughter and two sons, aged between 26 and 21. To make a living, Khudakarim operates a business in the agriculture sector raising cattle. He also grows sheep for family use. His sons actively helps him in farming.
Khudakarim has been engaged in his cattle-breeding business for over 9 years and earns approximately 300 AZN per month.This is the main financial source of income for the family. At present, Khudakarim has six dairy cows and four of them he bought with the help of the loan which he requested in January. This is his first loan in amount of 2000 AZN with AqroInvest and Kiva. He is a very responsible and hard-working man. In the future, he will improve his dairy and meat sales and provide more money for himself and 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.