Nagdali is a very hardworking man who has for the last 15 years earned a living by raising cattle and selling milk to local dairy wholesalers. He is married and has three children, two daughters and one son. He is seeking a loan of 1,200 AZN from AqroInvest and Kiva to buy more animals to raise and feed for them to eat. He believes that this will allow him to increase his income and improve his family's living conditions. This will be his fifth loan from our organization.
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.