Adil is 37 years old and is an internally displaced person who lives in the Bilasuvar IDP Settlement with his wife and one son. For the past 10 years, he has been a farmer who raises seasonal fruits and vegetables. He chose this business because it is profitable and in fresh crop is in high demand. People use fresh vegetables everyday and consider them healthy and many national dishes, such as pilau and dolma, are made of vegetables. Fresh fruits are on every table in Azerbaijan and they also make fresh punch.
Adil sells his crop in the Bilasuvar central bazaar. His monthly income is 200 AZN and his wife actively helps him to raise crop.
As this products are in high demand, Adil wants to expand his business and produce more fruits and vegetables to cover market demand. For this purpose he is requesting a loan of 1,000 AZN to new garden tools, seeds and fertilizers.
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.