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Total loan: $1,900
, , Rwanda / Agriculture
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Eugenie'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 of rice.
Eugenie is aged 32 years old, and she is married with three children aged between 8 and 16, all of them go to school. She has been farming for 13 years. With the loan from Kiva, she would like to buy more fertilizer for rice. The profits from her business will be used to buy a bicycle for transporting her production. 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.