Total loan: $1,950
, , Rwanda / Agriculture
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A loan helped to buy more fertilizers for potatoes.
Virginie is 72-years-old. She is married with eight children aged between 21 and 49; three of them go to school. She has been farming for 16 years. With the loan from Kiva, she would like to buy more fertilizers for potatoes. The profits from the business will be used to buy land. The agricultural 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.