Dashkin is 40 years old, married and has three children. He works as teacher in the local school. He has a small cow-house where he breeds calves. Because he does not have a specialized education, animal husbandry is the only source of income for his family. His salary is 100 USD and his monthly profit from business is 300 USD. Actually this is very low for his large family.
Dashkin buys calves on the market at a low price, feeds them and then resells on the same market at a more profitable price. He provides the market with meat and his family with the necessary food. Dashkin wants to buy young cattle and needs money, so he decided to apply for a loan of 1,000 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.