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Marceline
Marceline is 48 years old. She is married with three children. She has spent more than ten years in rice farming. She would like to use a Kiva loan to cover labor costs and buy fertilizer during rice production. She needs to buy fertilizer in order to increase production. With the profits from her farming she wishes to invest in her business so that in the future she can acquire machines and tractors to enhance her farming capacity.

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

More information about this loan


This loan is part of Urwego Opportunity Bank's program targeting farmers who are members of cooperatives. All borrowers benefiting from these loans receive financing, as well as seed and fertilizer from the Rwandan government. This Kiva loan will thus be used to provide borrowers with needed goods or services, as opposed to cash or financial credit. The loan is also covered by insurance in case of crop failure. 
 

Without flexible, risk-tolerant capital provided by lenders like you, Urwego Opportunity Bank would not be able to offer this type of loan. This is critical in Rwanda where 85% of the population is employed in agriculture, but many formal financial institutions consider the sector to be too risky to invest. By funding this loan, you are expanding opportunity to farmers with limited options.

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
  • 103
    View loans »
    Rwanda Loans Fundraising
  • $13,450,325
    Funds lent in using Kiva
  • 671.1
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,275 helped Marceline to buy more fertilizer and cover labor costs during rice production.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Nov 18, 2013
Listed
Nov 30, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014