Arif A. is a 52-year-old man who breeds sheep in the Internally Displaced People Settlement of the Bilasuvar region and who has more than 20 years of experience in this field. He is married and has four children. Arif applied for $1200 US to purchase 20 sheep. This will help to improve his life condition because summer is a good time to increase his income. It is the high season for wedding parties in Azerbaijan and mutton as the main meal is very popular.
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.
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