Total loan: $1,825
, , Rwanda / Agriculture
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Pascal's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to buy more cows for rearing.
Pascal is 52 years old. He is married with 5 children aged between 9 and 25 years old -- they all go to school. He is a farmer and he has been in a business for the past 11 years. His wife is a businesswoman. With the loan from Kiva, he would like to buy more cows for rearing. The profits from the business will be used to pay his children's school fees and to improve his standard of living. 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 these reasons, 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.