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Humbat
Humbat is a 53 year old man who lives in IDP Settlement with his wife and four children. He is a farmer and raises crops. He has 18 years of experience in this field. His son helps him to run the business. Humbat has permanent customers for selling crops to, and his monthly income is 100 AZN.

The IDP Settlement where Humbat lives is newly built by the government, and is located in the southern part of Azerbaijan where there are very rigorous climate conditions. In summer, the temperature reaches 105 degrees Fahrenheit. The main problem in the region is water for irrigation and for animals.

Humbat is not able to a build a water channel for his garden alone. This is quite an expensive process which requires a labor force and special equipment. He was extremely excited about water loans provided by AqroInvest, and applied for a 2000 AZN loan. He will use this loan to pay for special equipment, like a tractor, for making a water channel and to pay for workers who will dig the land.

Additional Information

More information about this loan

This loan will help fund AqroInvest's new loan product that supports clients who need to set up proper soil irrigation systems for their agricultural activities. It will also provide financing opportunities to dig wells to expand access to clean water for human and livestock consumption.

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.

About Azerbaijan

  • $10,800
    Average annual income
  • 20
    View loans »
    Azerbaijan Loans Fundraising
  • $14,255,775
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,550 helped Humbat to pay for special equipment to dig a channel and to hire laborers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 4, 2012
Listed
Oct 19, 2012
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014