Zeynab is 50 years old and married with four children. As a source of income for her family, Zeynab works in animal husbandry and farming. Starting with the purchase of a cow, Zeynab has been able to develop her farm which numbers, at present, two milk cows, two calves and 20 sheep.
In order to further develop her business, she has requested a loan in the sum of 1500 AZN from Aqroinvest and Kiva to buy 3 heads of livestock. This is her third loan. Zeynab plans to invest the earnings into increasing her headcount of domestic livestock.
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.