Total loan: $1,425
, , Rwanda / Agriculture
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Emmanuel's loan finished fundraising,
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A loan helped to buy fertilizers and support labor costs during maize production.
Emmanuel is aged 48. He is married with three children, they all attend schools. He has been a maize farmer for 18 years. He wants a Kiva loan to buy fertilizers and support labor costs. He plans to use the profits to make savings 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 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.