Today, get an extra $25 to lend when you make your first Kiva loan.
Total loan: $1,275
Cocuriga G 5 Group
, , Rwanda / Agriculture
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Cocuriga G 5 Group's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to buy more fertilizer and support labour costs during rice production.
Cocuriga G 5 Group's story
Etienne is 30 years old. He is married with one child. He has spent fourteen years in rice production. He is a group leader for the whole group, and they all practice the same farming of rice. He will use the Kiva loan to support labour costs and fertilizer during rice production. They need to buy fertilizer in order to increase their production. With profits from his farming, he wishes to invest in his business so that in the future he can acquire machines and tractors that will enhance their farming capacity. Etienne holds an envelope in the photo, as a symbol of identification from other group members. 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.