Funded

Total loan: $1,000
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Vincent

Rwanda
Rwanda / Agriculture

A loan of $1,000 helped to buy more fertilizers and support labor costs necessary during rice production.


Vincent's story

Vincent is married with two children. He has been farming rice for the past five years. With the loan, he would like to buy more fertilizers and support the labor costs necessary during rice production. The profits from the business will be used to help the living standards of his 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: July 10, 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: July 10, 2013
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International