Miralakbar is a 49-year-old man on a pension, married with one son. He breeds cows and steers and sells milk and milk products as well as cattle for meat purposes to local butchers. Miralakbar has 10 years of experience in this field, thank to his father who taught him best how to look after cattle.
Miralakbar usually buys calves, raises and fattens them for 5-6 months and resells them for a more profitable price from his house. Milk and yoghurt are sold to the neighbors. Milk and meat selling brings in 150 AZN in income per month. Milk and yoghurt, as well as meat are very popular products in Azerbaijan. People use meat in everyday national dishes as 'pilau' and 'dolma' and always use yoghurt in sauces. Milk products are considered very healthy and also always present in everyday life.
This is only one financial income in his family and it is not enough to cover the basic needs of his beloved son. Miralakbar applied for 1000 AZN to purchase one milk cow and fodder. This will be his third loan from AqroInvest and Miralakbar has a good client history.
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.