Funded

Total loan: $700
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Philippe

Rwanda
Rwanda / Farming

A loan of $700 helped to buy more fertilizers for use during rice production.


Philippe's story

Philippe is 33 years old. He is a father of two children. He has been in the rice farming sector for the past 12 years. With the loan, he would like to buy more fertilizers for use in the rice production. The profits from the rice produced will be used to reinvest in the already existing farming business to have better future returns.

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: August 14, 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: August 14, 2013
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International