Basti is a very kind and diligent woman. She is 52 years old and single. She has thirty years of experience managing a small grocery in Agsu region. This is the third time that Basti is receiving a loan from Agroinvest CU.
In conclusion, her aim is to expand her local business with a new loan of 1600 AZN (Azerbaijani Manats). With the loan she will buy various products for inventory. Her net profit will be 120 AZN. Basti hopes that she will not only get profit, but also help to improve the welfare of the community, because she plans to sell products at low prices.
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.