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Joel
Joel is married. He has three children aged between two and seven. Two of them attend school. He has been a rice farmer for two years. He would like to get this Kiva loan to buy fertilizers and seeds and hire additional labor so he can get the best harvest. With the profits, he plans to expand the area he has been using to get more output and also refurbish his own house so he has a magnificent view.

The agriculture sector accounts for 37% of Rwanda's gross domestic product, generates 65% of Rwanda's export revenue, and employs approximately 90% of Rwandans (as of 2009). Despite the importance of agriculture to Rwandans and their economy, financial institutions view lending to fund agricultural activities as a high-risk proposition because the profitability of these activities is affected by weather, natural disasters, and price fluctuations. For this reason, farmers in Rwanda remain underserved by financial institutions. Urwego Opportunity Bank is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.

Additional Information

About Urwego Opportunity Bank of Rwanda (UOB)

Urwego Opportunity Bank (UOB) is a Rwandan bank specializing in microfinance. It offers credit products to individuals and groups interested in starting or expanding their businesses. It also offers training in business development, financial literacy and health management. Given that approximately 90% of the Rwandan population is directly or indirectly related to the agricultural sector, Kiva lenders’ funds will be used to support UOB’s agricultural loan products, which are vital to the clients living in remote areas.

About Rwanda

  • $1,700
    Average annual income
  • 58
    View loans »
    Rwanda Loans Fundraising
  • $15,230,800
    Funds lent in using Kiva
  • 597.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Joel to buy fertilisers and seeds and hire additional labor.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Feb 21, 2012
Listed
Mar 20, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2012