Total loan: $1,850
, , Rwanda / Agriculture
Flag of Rwanda
Angelique's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped To buy fertilizers for rice production.
Angelique, age 36, is married with five children between 1 and 15 years old. Three of the children go to school. She has been farming for 11 years. She will use the Kiva loan to pay labor costs and buy fertilizer during rice production. She needs to buy fertilizers in order to increase her production. With the profits from her farming, she wishes to invest in her business so that in the future, she can acquire machines and tractors that will enhance her 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.