Total loan: $1,325
, , Rwanda / Agriculture
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Innocent's loan finished fundraising,
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A loan helped to buy more fertilizer and support labor costs during rice production.
Innocent is 45 years old. He is a father of five children. He has been a rice farmer for 15 years. With the loan, he would like to buy more fertilizer and support labor costs during rice production. The profits from the business will be used to help the living standards of his family. The agriculture sector accounts for 37% of Rwanda's gross domestic product, generating 65% of Rwanda's export revenue, and employing 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.