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Laurent
Laurent is married with two children aged 6 and 7; both of the children attend school. His wife is also a maize farmer. He has been a maize farmer for 6 years. He would like to get this loan to buy more seeds and support labor costs to get the best harvest. With the profits, he wants to renovate his house.
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 under-served 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
  • 30
    View loans »
    Rwanda Loans Fundraising
  • $13,326,100
    Funds lent in using Kiva
  • 602.6
    Rwanda Francs (RWF) = $1 USD
Expired
A loan of $1,500 helped Laurent to buy more seeds and support labor costs.
Repayment Term
8 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Jun 8, 2012
Listed
Jul 10, 2012
Currency Exchange Loss:
Possible
Expired:
Aug 9, 2012