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Cooproriz Isabane Gp8 Group
In this Group: Jean Paul, Jean Bosco*, Justin, Jean Baptiste, Francois, Didacienne, Jean Damascene*, Emmanuel, Bernard, Jean Bosco, Agnes*, Olivier, Jacqueline, Clemence*, Gaudence, Colette, Venuste, Innocent, Annet, Philomene*, Josiane, Fidele, Levocathe, Hassan*, Berikimas, Gildas, Vincent, Theogene, Francois, Solange, Pascal, Justine, Marie, Didier, Donatienne, Aloysia, Jean Bosco, Anastase, Violette, Jean Bosco, Petronille*, Eric, Francine, Muhawenimana, Chantal, Annonciatha
* not pictured
Chantal is 26 years old. She is married to a farmer and they both have two children. She has spent five years in the business. She will use her Kiva loan to support labor costs and to purchase fertilizer during rice production. They need to buy fertilizers in order to increase their production. With 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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Rwanda

  • $1,700
    Average annual income
  • 31
    View loans »
    Rwanda Loans Fundraising
  • $14,311,175
    Funds lent in using Kiva
  • 678.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A portion of Cooproriz Isabane Gp8 Group's $1,225 loan helped a member to pay for fertilizer and labor costs.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Mar 24, 2014
Listed
Apr 30, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 20, 2014