Aslan is a 30-year-old student at State Managerial Academy. He is studying for his MBA in this university and is in his first year of education. He is working in the State Power Authority. Aslan is married and his wife is also working and studying. He applied for 1000 AZN to pay for his second year of education, because he already paid for the first year. Aslan and his wife are waiting for a baby and their salaries are not enough to cover Aslan`s MBA tuition fee.
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.