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Jeanne
Jeanne, 35, is married and has two children yet to be school-aged. For the past seven years she has been a farmer.


Jeanne is applying for a 1,266,809 RWF loan through UOB to buy fertilizer in order to increase her rice fields’ yield. She plans to save her profits so that she can buy tractors and other farm machinery in the future.


As of 2009 the agriculture sector has accounted for 37% of Rwanda's gross domestic product, generated 65% of Rwanda's export revenue, and employed approximately 90% of Rwandans 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.

Tags

About Rwanda

  • $1,000
    Average annual income
  • 68
    View loans »
    Rwanda Loans Fundraising
  • $11,850,375
    Funds lent in using Kiva
  • 689.0
    Rwanda Francs (RWF) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,850 helped Jeanne to buy fertilizer for her rice fields.
0% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Jul 23, 2014
Listed
Aug 28, 2014
Currency Exchange Loss:
Possible