Raising crops has been his life project for the past five years, and this business brings him stable income that is the only financial source of support for the family. Rauf says that year to year, the climate has become more vigorous than in previous years, with especially hot summers and cold winters. In summer, the temperature often reaches 105 degrees Fahrenheit, and the main problem in the region is water for irrigation. Rauf is not able to build a water channel for his garden, by himself. This is quite an expensive process, which requires a labor force and special equipment.
When he heard about water loans, Rauf was extremely excited and applied for a 2,000 AZN loan. He will use this loan to pay for rental of special equipment, like a tractor, and for workers who will dig the land, for making a water channel.
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 AqroinvestAqroinvest 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.
24View loans »
Success!! The loan was 100% repaid