Ramil is a 32-year-old man who is married with one daughter. He is an internally displaced person (IDP) and lives with his family in the Bilasuvar IDP Settlement. He breeds cows and cattle and sells milk and milk products as well as the cattle meat to local butchers. Ramil’s father taught him how to look after cattle and he now has more than 10 years of experience in this field. He receives 70 AZN monthly in financial support from the government, but this amount is too low to cover his family’s needs.
Ramil usually buys small cattle, raises and fattens them for five to six months and resells them for a profit in the local livestock bazaar. He sells milk and yoghurt to his neighbors. Selling milk and meat provides Ramil with 100 AZN per month. Milk, yoghurt, and meat are very popular products in Azerbaijan as they are used in everyday national dishes. Milk products are also considered very healthy.
Ramil earns the only income for his family and it is not enough to cover the basic needs of his beloved children. Ramil applied for a 1,000 AZN loan to purchase cattle and fodder. Ramil has good client history and this will be the second loan from Kiva partner AqroInvest.
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.