Yusif is a 45-year-old man and married with three children. He is an IDP (internally displaced person) and lives with his family in Bilasuvar IDP Settlement. He breeds cows and cattle and sells milk, milk products as well as cattle for meat purposes to local butchers. He also raises sheep for meat purposes. Yusif has 10 years of experience in this field, thanks to his father, who taught him how to best look after cattle. He receives 120 AZN of financial support from the government monthly, but this is too low to cover family needs.
Yusif usually buys small cattle and then raises and fattens them in 5-6 months and resells them at profit in the local livestock bazaar. He sells milk and yoghurt to the neighbors. Milk and meat sales bring 250 AZN of income per month. Milk and yoghurt, as well as beef and mutton, 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 very healthy and are present in everyday life.
This is the only financial income in his family and not enough to cover the basic needs of his beloved children. Yusif has applied for a loan of 1800 AZN to purchase three head of cattle, one milk cow, and fodder. This will be his third loan, and he has good client history.
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.