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Total loan: $1,175
, , Rwanda / Agriculture
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Concilie's loan finished fundraising,
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A loan helped To support labor costs during rice production.
Concilie has been a rice farmer for the past 5 years. She is married, with 2 children, and she learned rice farming from a formal training program within her cooperative. She will use a Kiva loan to support labor costs during rice production: nursery, transplanting, field management, guarding birds, and lately in harvesting activities. With profits from her farming she wishes to invest in her business so that in the future she can acquire machines and tractors that will enhance her farming capacity. 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.