Total loan: $2,250

Cocuribu Agric Sub Group B

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, , Rwanda / Agriculture

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

A loan helped to prepare his land for the next rice season and also pay for labor.

Cocuribu Agric Sub Group B's story

Cocuribu Agric Sub Grou B is a group represented by Emmanuel who is 43 years old and a father of one child aged 18 years.

He is a farmer and has been growing rice for the past ten years. With the loan from Kiva, he would like to prepare his land for the next rice season and also pay for labor. The profits from his business he would like to provide school fees to his child and also provide for the family.

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.

Due to the global pandemic, Urwego was not able to get a photograph of all the group members. The photograph is of Emmanuel, the group representative.