Ahmad is a 28-year-old man who breeds cattle. He has been engaged in this business for the past 4 years. He is an IDP (internally displaced person) and lives with wife in Bilasuvar IDP Settlement. He usually buys small calves, raises them and resells them in 5-6 months at a more profitable price. Ahmad sells cattle for meat which is a very profitable business because meat is very popular in Azerbaijan and locals use it in everyday cuisine. His monthly income is 200 AZN. His wife helps him to run the business. Cattle breeding brings stable income to Ahmad’s family; it is the family's only income source. He needs additional capital to purchase more cattle to increase sales and improve the living conditions of his family.
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.