Zamiq G. is a 27-year-old farmer who breeds sheep in the Bilasuvar region. He has nine years of experience in this field. He lives with his family in the Internally Displaced People Settlement and his life conditions are below the poverty line. Zamiq has borrowed funds previously and has successfully repaid the loan. With his first loan, he purchased five sheep to breed and sell in the local bazaar. He spent the money he earned from the first loan improving quality of life conditions for his family. He plans to use this second loan of $800 USD to purchase 10 sheep ($60 USD each) and fodder.
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.