Valida is a 44 years old married woman with three children. She is an IDP and lives in Bilasuvar IDP Settlement. Valida has bred cattle and cows for past 10 years. She also works as a cleaner in the local school and her husband is unemployed. Her business helps to cover family need.
Valida usually buys small calves, raise and fatten them for 5-6 months and then resells them for a prof in the livestock bazaar. Her monthly income is 120 AZN. Meat is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. Valida also keeps milk cows for personal use and for selling to neighbors.
She wants to expand her business and improve the living conditions of her family. She applied for 1000 AZN loan to purchase one baby calve, one milk cow and fodder. This will be her 2nd loan and she has a good credit history.
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.