Elshad M. is a 28-year-old farmer who keeps cattle and sells them for meat production. He lives with his parents in the small village of Saatli, Azerbaijan. Elshad works very hard every day of his life to provide a better life for his family. He wakes up early in the morning, cleans the shed, and pastures the calves. Currently, Elshad has three calves and he would like to purchase two more calves to increase his profit, especially since he is going to be married this year. Development of his business is in your hands.
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.