Total loan: $1,100
, , Rwanda / Agriculture
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A loan helped To buy fertilizers and to pay for labor costs during maize production.
Samuel is 28 years old and married to a farmer. They have two children who are still very young. He has spent eight years in farming. He would like to get this Kiva loan to buy fertilizers and to pay for labor costs during maize production. He plans to use the profits to buy a tractor instead of using human labor. 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.