Funded

Total loan: $1,350
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Eugene

Rwanda
Rwanda / Agriculture

A loan of $1,350 helped to buy more seeds, seed multiplication and support labor costs.


Eugene's story

Eugene is married with four children, ages between 11 and 19. All his children go to school. His wife works as a maize farmer. He has been a maize farmer for three years. Eugene would like to get this loan to buy more seeds, seed multiplication and support labor to get the best harvest. With the profits, he plans to pay school fees, and build 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.



Loan details

Loan length:

8 months
Repayment schedule: At end of term
Disbursed date: June 8, 2012
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International

Lenders and lending teams



Loan details

Loan length:

8 months
Repayment schedule: At end of term
Disbursed date: June 8, 2012
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International