Funded

Total loan: $1,300
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Valens

Rwanda
Rwanda / Farming

A loan of $1,300 helped to buy fertilizer, quality seeds, and support labor costs during maize production.


Valens's story

Valens is 31; he is married to a farmer, and he has been a rice farmer for 15 years.

He has requested this Kiva Loan to buy fertilizer, quality seeds, and support labor costs during maize production. With the profits from the harvest, he will be paying school fees for the children, and building 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:

10 months
Repayment schedule: At end of term
Disbursed date: December 24, 2012
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International

Lenders and lending teams



Loan details

Loan length:

10 months
Repayment schedule: At end of term
Disbursed date: December 24, 2012
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International