Latafat is a 39-year-old married woman with 2 sons and a daughter. She is IDP and lives with her family in a settlement for IDP. Her husband is a laborer. She has a husbandry breeding cows, sheep, etc., and has been selling meat, milk, and wool for almost 10 years. Her monthly income is 100 AZN.
There are lots of different kinds of delicious dishes in Azerbaijan cuisine that include meat (dolma, kebab, dushbere, qutab, khash). And that's why people's demand for meat is very high. Milk is also used daily, preparing different sweets (cookies, pies, etc.). Beside that milk is very useful for health.
Latafat's condition is very difficult and she needs to increase her income and help her family. She applied for a loan of 2000 AZN in order to buy more husbandries. This is her fifth loan and she has a positive client history.
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.