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Corneille
Corneille is 41 years old. He is married to a farmer, and they have been farming maize for the past twelve years. With this loan, he would like to buy more fertilizer to use during maize production. He plans to use the profit to buy extra land to cultivate.

The agricultural 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.

Tags

About Rwanda

  • $1,000
    Average annual income
  • 86
    View loans »
    Rwanda Loans Fundraising
  • $12,777,600
    Funds lent in using Kiva
  • 671.1
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Corneille to buy more fertilizer to use during maize production.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Nov 25, 2013
Listed
Nov 30, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 30, 2014