Oruc is a 40-year-old man, married with one son. Oruc is an Internally Displaced Person. He has been raising fruits and vegetables for the last eight years. His father taught him the best experience in raising crops.
Oruc usually sells his crop in the central market. People use fresh vegetables every day and consider them healthy; many national dishes are made of vegetable, like pilau and dolma. Fresh fruits serve every table in Azerbaijan family and also are used to make fresh punch.
Oruc would like to increase the number of products he sells and for this purpose he applied for a 1000 AZN loan. He will use the loan to purchase seeds and fertilizers. He has a positive loan history and this will be his 3rd loan.
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.