Total loan: $1,775


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, , Rwanda / Agriculture

Celestin's loan finished fundraising,
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A loan helped To buy fertilizers for rice production.

Celestin's story

Celestin is 24 years old. He is married and has two children, ages 2 and 3. They do not yet go to school. He has been farming for three years. He will use his Kiva loan to buy fertilizers during maize production. He needs to buy fertilizers in order to increase his production. With the 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 his farming capacity. 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.