Elkhan is a 53-year-old man who lives with his wife and three children. He is a cattle breeder and has five years of experience in this field. Elkhan chose this particular activity because meat is in very high demand in Azerbaijan and most of the national dishes like dolma and pilau are made of meat. Also Elkhan keeps cows for milk and yoghurt sales.
Elkhan usually buys small calves in the central bazaar, fattens and raises them for 5-6 months. Then, he resells the grown cattle at a more profitable price to market vendors and butchers. His wife helps to look after the animals and feed them.
Demand for fresh meat and milk products is very high, and Elkhan would like to meet the demand of his permanent clients. For this purpose, he applied for a 1350 Azerbaijani manat loan. He will use the loan to buy one cow and two calves.
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.