Total loan: $1,375
, , Rwanda / Agriculture
Joseph's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to buy more fertilizers and pay for labor costs during rice production.
Joseph, age 42, is married with six children between the ages of two and ten years old. His wife works with him in rice farming. He wants this Kiva loan to buy more fertilizers and pay for labor costs during rice production. He wants to use the loan to reinvest in the agriculture sector. 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.