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Dative
Dative is 25 years old. She is married with three children and they all go to school. Her husband worked as a farmer for the past 12 years in field of farming, and they all enjoy farming, especially maize. This is a new loan product from Urwego Opportunity Bank (UOB) which will help in the construction of the warehouse or store for their maize produce while they are waiting for their harvest to be bought by the buyers. This constructed infrastructure will even help the entire community to have a secure store for their produce in the future. UOB’s farmer clients are benefiting from production financing which is significantly increasing their yield or production; however, during the post-harvest processes, they are suffering from lack of income as they have to wait for the buyer to pay them.

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
  • 35
    View loans »
    Rwanda Loans Fundraising
  • $13,303,700
    Funds lent in using Kiva
  • 678.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Dative to pay for a warehouse/store construction for maize produce.
100% repaid
Repayment Term
4 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Apr 30, 2014
Listed
Jun 18, 2014
Currency Exchange Loss:
Possible
Ended:
Aug 23, 2014