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Mulkadar
Mulkadar is a 31-year-old farmer who breeds cattle for milk and meat purposes. He is married and has 2 sons. His elder son helps him a lot in his business. He has 8 years of experience in this field and his financial income is 530 AZN.

The village where Mulkadar lives is located in the southern part of Azerbaijan with very rigorous climate conditions. In the summer, temperatures can reach 105 degrees Fahrenheit. The main problem in the region is water for irrigation and animals. Mulkadar is not able to build a water channel for his animals alone. This is quite an expensive process which requires a 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 build the water channel, including tractor rental and paying for labor.

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 Mulkadar to pay for special equipment and labor to dig a water channel.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 5, 2013
Listed
Mar 17, 2013
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2013