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Gancali
Gancali is a 62-year-old man on a pension who is married and has four children. He is an Internally Displaced Person and lives in the IDP Settlement.

He is farmer. He has raised potatoes, carrots, greens, and other vegetables for the past 18 years. His business has grown smoothly, and his monthly income is 150 AZN.

However, there is one main challenge in his business: no water for irrigation. He says that this summer was most harmful for his crop. It was extremely hot, and he had to order special water service for watering his land.

Gancali is not able to build water channel for his garden alone. This is a quite expensive process that requires labor and special equipment. He was extremely excited about the water loans provided by AqroInvest, so he applied for a AZN 2,000 loan. He will use this loan to pay for special equipment like a tractor for making the water channel and 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
  • 28
    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 Gancali to pay for tractor rent and labor to dig a water channel.
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