Total loan: $1,275
, , Rwanda / Agriculture
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A loan helped to buy fertilizers and quality seeds and to support labor costs during maize production.
Theogene is 42 years old. He is married to a farmer. He has been a rice farmer for 20 years. He has requested this Kiva Loan to buy fertilizers and quality seeds and to support labor costs during maize production. With the profits from the harvest, Theogene will be paying for school fees for the children and buying a car which can help him with transportation. 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 of Rwanda is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.