Rafik is 46 years old and has a partner with whom he has 3 children. Currently Rafik lives in Agsu with his family where he is developing his economic endeavors. He makes a living in animal husbandry. Rafik has been raising cattle for over 10 years at his home. His sons are involved in the business as well. Given this opportunity they need this loan to buy livestock, for example, dairy cows. Rafik is a hard worker and responsible which is why he requested a loan from AqroInvest and Kiva. This is his first loan in amount of 1500 AZN.
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.