Aynur Q., age 45, carries out her daily work herding her grazing cattle in an area near the city of Bilasuvar, where she is from. She and her husband have been dedicated to this occupation for the last six years. This is the only financial income for the family. Aynur is the dedicated mother of three children.
Aynur wishes to buy calves for breeding and so that she can increase monthly turnover. She is therefore asking for a loan of 1,000 AZN. She promises to repay on time.
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.