Social Issue

Although Azerbaijan is a fairly developed country with a per capita income of $7,800 in 2013 (76th worldwide), the poverty rate remains high, particularly among the rural population: Farmers and internal migrants who are AqroInvest’s focus of attention. Furthermore, according to a study carried out by the World Bank in 2013, around 92% of the country’s micro-enterprises do not have access to credit. In fact, difficulties in accessing financial services are the main obstacle to the development of their activities.

Our Response

AqroInvest Credit Union was established in 2001 with the objectives of strengthening the fabric formed by small and medium-sized companies and to contribute to the promotion of the agricultural sector. AqroInvest deploys its activities in eight regions of Azerbaijan: Imisli (where its main headquarters are), Sabirabad, Saati, Bilasuvar, Agsu, Lankaran, Aghjabadi, and Baku.

AqroInvest also focuses its efforts on providing services for internally displaced communities. The Azerbaijani government replaced the provisional camps with urbanised settlements in 2007 and granted these people land for agricultural and livestock farming. So far, AqroInvest has offered loans to settlers in the Imisli region.

Expected Social Impact

With this investment of the Netri Foundation, it is estimated that Aqroinvest will be able to provide 573 microloans to empower the rural communities of Azerbaijan.