Total loan: $1,975
, , Rwanda / Agriculture
Venuste's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to pay workers who grow rice.
Venuste is 37 years old. He is married with 4 children aged between 4 and 15 years. They all go to school. He is a farmer and he has been growing rice for the past 19 years. His wife is a farmer. With this loan from Kiva, he would like to pay workers who grow rice. The profits from the business will be used to buy a piece of land for growing rice. 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.