Rahman is 44 years old and married with a daughter and two sons. His wife is a housekeeper. They are refugees and live in a settlement for IDP (internally displaced peoples). Rahman has been raising husbandries for 12 years such as sheep and cows. He sells milk, meat and sheep's wool at the local bazaar and earns 130 AZN monthly.
The region where he lives is very cold. That’s why people's demand for wool is very high. They make coats, jackets, gloves and socks to keep themselves warm. People use meat to prepare dishes every day and drink milk because it is very useful for health.
Rahman wants to increase his income because his current earnings are not enough to cover life's demands. He applied for a 2,000 AZN loan in order to buy more animals.
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.