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Ignace
Ignace is the father of an 18-month-old child. He is married to a farmer. He has been a rice farmer for four years. He would like to get this Kiva loan to buy fertilizers and seeds, and pay for extra labor to get the best harvest. With the profit he makes, he plans to expand the area he has been farming in order to increase output and rear cows, from which he expects to get milk to better feed his family.

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

  • $1,000
    Average annual income
  • 28
    View loans »
    Rwanda Loans Fundraising
  • $13,754,400
    Funds lent in using Kiva
  • 598.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,375 helped Ignace to buy more fertilisers and seeds and pay for extra labor.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Feb 22, 2012
Listed
Mar 21, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2012