Qadir is a 54-year-old cattle breeder who breeds cattle and sheep. He is an IDP (Internally Displaced Person) and lives with his wife and five children in the Bilasuvar IDP Settlement. He has 4 years of experience in this field. Cattle and sheep breeding is the only financial income in his family.
Qadir generates income from selling sheep and cattle for meat purposes and also sheep for their wool. His profit per month is about 150 AZN. He applied for a 1,500 AZN loan in order to purchase more sheep and cattle. This will be his 4th loan and he has a good credit history.
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.