Jahangir is 34 years old and married with four children. He is an Internally Displaced Person and lives with his family in Bilasuvar IDP Settlement. He breeds cattle and sells milk and milk products, as well as cattle for meat to local butchers.
Jahangir has more than five years' experience in this field, thanks to his father who taught him the best way to look after cattle. He receives 90 Azerbaijani manat (AZN) per month in financial support from the government, but this is too low to cover his family's needs.
Jahangir usually buys small cattle, raises and fattens them in five to six months and then resells them for a more profitable price in the local livestock bazaar. He sells milk and yoghurt to his neighbours. Milk and yoghurt, as well as meat, are very popular products in Azerbaijan. People use meat in everyday national dishes such as pilau and dolma and they always use yoghurt sauce. Milk products are considered to be very healthy and are also common in everyday life.
Selling milk and meat brings in 300 AZN per month. This is Jahangir's only income in his family and is not enough to cover the basic needs of his beloved children.
Jahangir has applied for a 1200 AZN loan to purchase two baby cattle, one milk cow and fodder.
This will be his fourth loan from AqroInvest and Jahangir has a good client history.
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.