Zabit usually buys calves to raise and fatten, selling them at a profit. His monthly income of 150 AZN is the only source of income for his family. Earning enough money for them is challenging, as is the hard work required in looking after the animals, which entails spending a lot of time outside in harsh weather conditions. Yet Zabit is a very positive man who is supported and helped by his wife.
He has applied for a loan of 1000 AZN to buy three baby calves. The national spring holiday of Novruz is approaching, a good time to fatten and sell cattle at profitable prices for the many wedding parties that take place around the holiday.
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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