Nazaket is a 41-year-old woman. She is married and has four sons. The main source of the family’s income is gardening. She has a small garden and raises there seasonal fruits and vegetables and sells them at a local bazaar. She has been working in this field for nine years and her monthly income is 150 AZN. Nazaket’s husband is a farmer and he helps her in this business.
Gardening is very popular in Azerbaijan because fruits and vegetables are in high demand. People buy them every day and for holidays. They prefer to buy from private gardens because products there are always fresh and tasty.
Nazaket has a big family and her income doesn’t cover demands. She applied for a 1500 AZN loan in order to buy high quality garden tools and fertilizer. This will increase her garden’s yield and her family’s income. She plans to build a big garden and greenhouse for fruit trees and vegetables in the future.
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.