Adil is a 48-year-old man who sells milk and yoghurt, and also breeds cattle for meat purposes. He has four years of experience in this field. Adil is an IDP (internally displaced person) and lives in Bilasuvar IDP Settlement with his wife and two sons. He usually buys small cattle, raises and fattens them and resells for more profitable price in the local bazaar. Meat and milk products are very popular in Azerbaijan and people use them in everyday cuisine. His monthly income is 200 AZN. Now he would like to increase his profit and purchase more animals. For this purpose, he applied for a loan of 1500 AZN. He will use the loan to purchase one milk cow and two calves. This will be Adil’s third loan and he has a good credit history.
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.