Total loan: $8,750

Umugisha Agric Sub Grp B Group

, , Rwanda / Agriculture

Umugisha Agric Sub Grp B Group's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!

A loan helped to buy more fertilizers for irish (potato) growing and also to buy more seeds.

Umugisha Agric Sub Grp B Group's story

Umugisha Agric Sub B is a group represented by Innocent, a 39-year-old father of five children between the ages of 1 and 18 years. He is a farmer and has been growing Irish potatoes for the past 25 years. With the loan from Kiva, he would like to buy more fertilizers for Irish-growing and also buy more Irish seeds. The profits from his 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 underserved by financial institutions. Urwego Bank is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.