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Elman is a 43-year-old man who is engaged in farming. He is an IDP (internally displaced person) and lives in an IDP settlement with his wife and two children. He has raised vegetables like potato, carrot, and pumpkins in his garden for the last 10 years. He also breeds cattle for meat purposes. Both businesses bring him a stable income of 250 AZN. However, there is a problem which prevents growing his business--shortage of water resources for animals and for irrigation.

The IDP settlement was built several years ago and there are still some utility problems with the water supply. People are suffering and he has to order special cars with water to irrigate his crops, especially in summertime, when the temperature reaches 105 degrees Fahrenheit.

Building a water channel requires a lot of expense and is a expensive process which requires labor force and special equipment. When he heard about water loans he was extremely excited and applied for a 2,000 AZN loan. He will use this loan to pay for special equipment like tractor for making a 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
  • 81
    View loans »
    Azerbaijan Loans Fundraising
  • $14,526,825
    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 Elman to pay for tractor rent and hire labor for digging water channel.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 4, 2012
Oct 19, 2012
Currency Exchange Loss:
Nov 17, 2014