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Salman
Salman is a 37-year-old man, living in an IDP (Internally Displaced Persons) Settlement with his wife and four children. He raises cows for milk purposes and has four years of experience in this field. His business brings him a stable income of 250 AZN. He has permanent buyers, however, there is only one problem he has now, which is absence of water. Now, in order to water his cows, he has to herd them about 1 kilometer to the nearest river.

When he heard about water loans he was extremely excited and applied for a 2000 AZN loan. A water channel is quite an expensive process which requires a labor force and special equipment. Salman will use this loan to pay for special equipment rental like a tractor for making a water channel and for workers who will dig up 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

  • $6,171
    Average annual income
  • 26
    View loans »
    Azerbaijan Loans Fundraising
  • $14,057,125
    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 Salman to pay for tractor rental and pay hired laborers to get water for his dairy cattle.
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