Water is one of the most important elements of human life. People cannot live without water. They drink it, use it for washing, and to raise their gardens and crop fields. During a severe winter, the water pipe broke again and caused a lot harm for the region. Now most of the houses cannot use their water.
Alim applied for 2,000 AZN in order to by all the needed tools and finish repairing as soon as possible. It is a hazard for his house, which is situated next to the pipe. He wants to attract a professional repairer for this work and also needs to repair his house.
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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 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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