A loan of $1,225 helped to pay labor costs and purchase fertilizer.


Josephine's story

Josephine is 35 years old. She will use her Kiva loan to pay labor costs and buy fertilizer during her maize production.:She needs to buy fertilizer to increase her production. With profits from her farming, she wishes to invest in her business so that in the future she can acquire machines and tractors that will enhance her farming capacity. This loan is part of Urwego Opportunity Bank's program targeting farmers who are members of cooperatives. The loan goes to the cooperative's leader (pictured) on the group's behalf, and all borrowers benefiting from this loan receive financing such as quality seeds from the Rwandan government. The loan is also covered by insurance in case of crop failure. 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


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Loan details