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Aqroinvest Credit Union: Empowering Azerbaijan’s Rural Poor and IDPs

Aqroinvest Credit Union, established in 2001, provides microfinance services to IDPs and rural poor in Azerbaijan. With a vision to advance financial sustainability and economic well-being, Aqroinvest CU partners with various organizations and aims to ensure financial resources accessibility for sustainable economic development. The union's values include social justice, cooperativeness, transparency, punctuality, responsibility, and teamwork. Aqroinvest CU's mission is to offer viable financial services and contribute to the economic prosperity of its members and vulnerable groups through demand-driven lending services. This sustainable microfinance model supports economic development in Azerbaijan, with a focus on high demand for microloans and government support for the informal sector.

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Aqroinvest Credit Union: Empowering Azerbaijan’s Rural Poor and IDPs

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  1. AQROINVEST CREDITUNION Aqroinvest CU Baku 2007

  2. Geographical Position • Azerbaijan Republic situated on the Caspian Sea • Population – 8.5 millions(51% urban, 49% rural) • Area – 86,600 sq.km (20% under occupation) • IDPs, Refugees - 1 million (12%) • Main exports – Oil, oil products • Inflation rate for FY 2006 -8.6%

  3. Microfinance Statistics in Azerbaijan • 14 NBCO, 76 Credit Unions, 5 Banks in MF • Active clients 192 000, Portfolio 211 millions USD • Target Group – IDPs, low-income people, rural poor • Only 40 districts of total 70 are scarcely covered by MF • AMFA, AKIA, National Bank involved in MF • ADB, WB, EBRD, TACIS in Azerbaijan MF • Microfinance future sustainable in Azerbaijan due to below factors: • high demand of micro loans • unemployment rate being high • government support to informal sector • providing access to capital in free-market economy

  4. Background • 2001 Established in Imishli • 2003 Opened branches in Sabirabad, Saatli & Bilasuvar IDP & Refugee Settlement • 2007 Opened branch in Varkhankend village, IDP Settlement • Provides loan service to IDPs and rural poor • Staff-20 employees • Number of clients –1200 • Portfolio - 1 263 757.45

  5. About Aqroinvest CU • Partners: • Ministry of Economic Development National Fund for Entrepreneurship Support (SKMF) • Social Fund for Development of Internally Displaced Persons (MKSIF) • Credit Implementing Agency, Non Bank Lending Organization (IKA) • KIVA (US) • Azerbaijan Credit Union Association (AKIA) • Member of: • Azerbaijan Microfinance Association (AMFA) • Micro Finance Center (MFC,Warsaw)

  6. Agroinvest Sources of Funding

  7. Our Vision, Mission, Goals • Vision is to become advanced credit union providing viable financial services for union member as well as playing an important role in financial sustainability and economic well-being of Azerbaijani people. • Mission is to become advanced credit union providing viable financial services for union member as well as playing an important role in financial sustainability and economic well-being of Azerbaijani people. • Goal is to ensure that its members, preferably rural poor and IDPs have an access to viable financial resources and take an advantage of using these resources to determine a sustainable economic future for them.tribute to the business development of the union members and vulnerable groups of people by demand-driven lending services with desirable depth, width and length of social outreach.

  8. Agroinvest Values • Social Justice • Cooperativeness • Transparency • Punctuality • Responsibility • Teamwork

  9. Agroinvest clients

  10. Agroinvest Loans

  11. Female clients Indicator 2003-2007

  12. Aqroinvest Staff

  13. Contact Information AQROINVEST CREDIT UNION Address: Baku city, Matbuat av. 2, Botanical Institute Phone/Fax:(994 12) 510 61 90 (994 40) 211 00 81

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