Zahid usually buys young cattle, raises and fattens them for 5-6 months, and then resells them for a more profitable price in the local livestock bazaar. Milk and yoghurt he sells to the neighbors. Milk and meat selling brings 100 AZN of income per month. Milk and yoghurt, as well as meat, are very popular products in Azerbaijan. People use meat in everyday national dishes such as pilau and dolma and always use yoghurt sauce. Milk products are considered to be very healthy and are also present in everyday life.
This is the one source of financial income in his family and not enough to cover the basic needs of his beloved children. Zahid applied for 1,500 AZN to purchase one milking cow, two cattle, and fodder. This will be his 2nd loan from AqroInvest, and Zahid has a good client history.
More information about this loan
This loan is designed for clients residing in settlements for Internally Displaced Persons (IDPs) in Bilasuvar, Azerbaijan. An internally displaced person (IDP) is someone who has been forced to flee his or her home due to armed conflict, violence, human rights violations, or natural or manmade disasters, but who, unlike a refugee, has not crossed an international border (source: UN Office for the Coordination of Humanitarian Affairs). Many of these people have failed to qualify for loans through formal channels due to low income and lack of collateral. By funding this loan, you are creating opportunities and supporting economic development in extremely underserved communities.
About Aqroinvest: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.
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