Milaz is 56 years old, married and has six children! He has more than 20 years of experience in cattle breeding and dairy selling. His primary source of income is selling dairy and dairy products to the local people. His monthly income is about 70 USD and he would like to expand it to 150 USD. His dream is to save money and purchase a car one day. He says if he had a car, he could sell milk in other villages and take his dairy products once a week to the city. Now he applied for 1500 AZN, which he will use to purchase two milk cows.
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.