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Elman
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 by a group of 32 Imishli farmers in 2001, and has grown to become one of the largest credit unions in Azerbaijan. It boasts a portfolio of nearly $5 million and is wholly owned by its more than 3,500 borrowers, as of December 2011.

You can join Aqroinvest's Kiva lending team, Aqroinvest Dostları (Friends of Aqroinvest), and become a fan of the organization on Facebook here.

About Azerbaijan

  • $6,171
    Average annual income
  • 42
    View loans »
    Azerbaijan Loans Fundraising
  • $13,981,775
    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 Elman to pay for tractor rent and hire labor for digging 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