Total loan: $1,150
, , Rwanda / Agriculture
Flag of Rwanda
Prosper's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped To buy seeds and fertilizers, and cover labor support costs.
Prosper is married with six children aged between 6 and 22. All are enrolled in school. His wife works as a farmer. He has been a rice farmer for 1 year. He would like to get this Kiva loan to buy fertilizers and seeds, and pay for support labor to get the best harvest. With the profits, he plans to expand the area he has been using to get more output and pay school fees for the 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 Opportunity Bank is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.