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Emmanuel
Emmanuel is married and has one child aged seven. He has been a rice farmer for 25 years.


Emmanuel is applying for a 624,400 RWF loan from UOB to use to buy and plant seedlings and pay for labor on his farm. He plans to use the profits to pay for medical insurance and school fees for his child. He also wants to lay some away in savings.


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
  • 47
    View loans »
    Rwanda Loans Fundraising
  • $15,329,275
    Funds lent in using Kiva
  • 602.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Emmanuel to buy and plant seedlings and pay for labor on his farm.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Jul 23, 2012
Listed
Aug 7, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013