Agamir is a 34-year-old man, who lives with his family in a small settlement in Agsu. He has a son who is 13 years old. Agamir decided to start his own business in 2007 and since that time has done well. This is his first loan with Aqroinvest and Kiva. He used this loan of 1000 AZN to purchase stock for his store. Agamir sells fruits and vegetables. He dreams to increase the family income which now is only 250 AZN per month. Agamir is a diligent man, who after repaying this loan, plans to open a new store.
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.