Fargana is a 27-year-old woman who is married with two children. Since her husband is unemployed, she has worked in the business of buying and selling cattle since 2009. Currently, she has two cows and one cattle. She has land that she cultivates for fattening her cattle. Now Fargana wants to expand her business, and since her children are grown up, she thinks that she will be able to look after more cattle with their help. Therefore, she is asking for 1,000 AZN in order to purchase more animals. Fargana expresses her gratitude for everyone who is supporting her and she 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.