Rural Credit Project Yields Success for Azerbaijan’s Farmers
Elshad Bayramov, a small-scale dairy farmer, vastly improved his operations with the help of loans totaling $16,000 from CredAgro, a rural lending institution established under the Azerbaijan Rural Credit (ARC) Project. Since 2001, Mr. Bayramov has obtained three CredAgro loans to finance purchases of forty cattle, a second-hand tractor and hay cutting equipment. His herd has expanded from twelve dairy cows each producing roughly one liter of milk each per day, to more than forty cows producing about two liters of milk per day each. Mr. Bayramov has repaid all his loans on time and is hoping to borrow again to create an irrigation system to increase the yield from his wheat field.
When asked about the significance of the opportunity to borrow from CredAgro, Elshad replied, “A few years ago, I could not even dream about owning a tractor.”
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| Elshad Bayramov never dreamed that he would be able to afford a tractor |
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