Jahangir is a 42-year-old man, married with three children. He repairs carpentery and works in his garage. He has 15 years of experience in this field. He takes orders from his house and makes gates, doors, windows, roofs and other items from steel. His monthly income is 170 AZN. His son helps him to take orders and works with Jahangir completing items.
The main challenge in his work is to fill orders on time, and to do this, his working materials are not enough. He applied for 1000 AZN to purchase more steel to take more orders and increase his profit.
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.