Funded

Total loan: $400
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Cyridion

Rwanda
Rwanda / Agriculture

A loan of $400 helped to buy more fertilizers and to pay for labor costs during rice production.


Cyridion's story

Cyridion is 44 years old. He is a rice grower married and blessed with four children, all of whom attend school. His wife works together with him to grow rice. He wants this Kiva loan to buy more fertilizers and to pay for labor costs during rice production. He is planning to use the profits to buy a cow to provide milk for the entire family.

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: February 18, 2013
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: February 18, 2013
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International