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Total loan: $1,975
, , Rwanda / Agriculture
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Jean Damascene's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped To buy fertilizers and pay workers.
Jean Damascene's story
Jean Damascene is 39 years old. He is married with five children aged between 1 and 8 years old. One of them goes to school. He is a farmer and he has been growing rice for the past 18 years. His wife is a businesswoman. With the loan from Kiva, he would like to buy fertilizers and pay workers. The profits from the business will be used to buy a house. 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.