Vasif is 29 years old, married and has one daughter. His family is an IDP (internally displaced person) and they live in an IDP settlement. His wife is a housekeeper. Vasif raises vegetables (greens, potatoes, onions, tomatoes and so on) and fruit trees (apples, pears and etc.). His monthly income is 150 AZN and he has nine years of experience in this field . He gets an additional small income working as a driver.
People living in DIP settlements have a higher demand for products such as fresh fruits and vegetables. They prepare juice, fruit pies, etc. and make different kinds of salads.
Vasif needs to improve the condition of his garden. He applied for a 2,000 AZN loan to buy garden tools and repair the garden. He wants to get more money in order to improve his family's hard life.
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.