100%

funded

Total loan: $3,550

Corimi 06 Group

, , Rwanda / Agriculture

Corimi 06 Group's loan finished fundraising, but these other borrowers need your support


A loan helped to buy more fertilizer to use for growing rice.


Corimi 06 Group's story

CORIMI 06 is a group represented by Antoine who is 42 years old. He is a farmer and has been growing rice for the past 11 years. His wife is also a farmer.

With the loan from Kiva, Antoine would like to buy more fertilizer to use for growing rice. The profits from the business will be used to pay school fees for his children.

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 under-served 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.