Rafiq is a 49-year-old cattle breeder who has 10 years of experience. He breeds cattle and cows for meat and milk purposes. Rafiq is an IDP (internally displaced person) and lives with his wife and one daughter in Bilasuvar IDP Settlement. Rafiq’s income consists of milk and yogurt sale as well as meat production. He usually buys calves, raises and fattens them, and then sells them for a profitable price in the central livestock bazaar. His brother helps him to run the business. His monthly profit is 250 Azerbaijan New Manats (AZN) and he would like to increase it. For this purpose he applied for a loan of 1000 AZN to purchase one milk cow and one calf.
Aqroinvest Credit Union was founded by a group of 32 Imishli farmers in 2001, and has grown to become one of the largest credit unions in Azerbaijan. It boasts a portfolio of nearly $5 million and is wholly owned by its more than 3,500 borrowers, as of December 2011.