Javid is a 21-year-old man who studies at Azerbaijan Technology University. He is on the third year of education studying Technology of Manufacturing Products and Expertise. He will complete his education in 2013. His father and mother are working and paying for his education. However, Javid applied for a job and plans to pay his last year himself. But now he needs 2000 AZN to pay his last bit of tuition.
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.