AQROINVEST CREDITUNION Aqroinvest CU Baku 2007
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%
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
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
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)
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.
Agroinvest Values • Social Justice • Cooperativeness • Transparency • Punctuality • Responsibility • Teamwork
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