Firangiz is 54 years old. She is married and the mother of one child. Her husband is a construction worker. Since she was very young, Firangiz worked on a small farm, and now, along with her husband, she works cultivating fruits and vegetables. When their crop comes in, they transport it to the central bazaar in Agsu city to sell. This activity has helped to pay for the expenses of her family and increase her profit.
Today she needs a loan to prepare her land for the upcoming season. She requests 1,000 AZN. Firangiz wants to thank everyone for supporting her and promises to repay the loan 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.