Funded

Total loan: $1,825
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Claudine

Rwanda
Rwanda / Farming

A loan of $1,825 helped to pay for construction of a warehouse/storage place for maize.


Claudine's story

Claudine is 32 years old. She is married with three years. This is a new loan product for UOB. This loan will help in the construction of a warehouse, or storage place, for their maize produce. They are waiting for their harvest to be bought, by the buyers. This infrastructure being built will help the entire farmers to have secure storage for their produce, in the future. UOB’s farmer/clients have been benefiting from the financing of farming supplies, which is significantly increased their yield, or production. But during the post-harvest processes, they are suffering more from poverty as they have to wait for the buyer to pay them.

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:

3 months
Repayment schedule: At end of term
Disbursed date: May 4, 2014
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International

Lenders and lending teams



Loan details

Loan length:

3 months
Repayment schedule: At end of term
Disbursed date: May 4, 2014
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International