Vugar (whose brother is pictured here because Vugar was away when this photo was taken) is a single man who lives in a village known as Garachay in the Khachmaz region of Azerbaijan. He was born in 1975. Vugar and his brother have been in the cattle-breeding business for the last five years, and have applied for a loan of $1,200 to buy a cow and a calf.
Komak means “help” in Azerbaijani. As of its creation in 1999, Komak has kept true to its name by helping thousands of Internally Displaced Persons, refugees and the economically disadvantaged by providing these groups with sustainable credit services. As of 2010 Komak’s $2.5 million portfolio serves 1513 clients, 81% of whom are IDPs, and 40% of borrowers are women. In 2009, Komak was cited in a report by the United Nations General Assembly as one of Azerbaijan's prominent forces in restoring the local economy by enabling small and medium enterprises with credit. For more on Komak, please join our lending team, Friends of Komak Credit Union.