Funded

Total loan: $1,850
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Olivier

Rwanda
Rwanda / Agriculture

A loan of $1,850 helped to pay for warehouse/store construction for maize produce.


Olivier's story

Olivier is 33 years old. He has requested a Kiva loan through a new loan product from Urwego Opportunity Bank (UOB) to pay for warehouse construction. This loan will help in the construction of the warehouse or store for their maize produce while they are waiting for their harvest to be bought by the buyers. This constructed infrastructure will even help the entire community to have a secure store for their produce in the future. UOB’s farmer clients are benefiting from production financing which is significantly increasing their yield or production; however, during the post-harvest processes, they are suffering lack of income as they have to wait for the buyer to pay them. This Kiva loan will play a big role as a bridge for solving their primary day-to-day needs during that period.

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 (UOB) is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.



Loan details

Loan length:

2 months
Repayment schedule: At end of term
Disbursed date: June 1, 2014
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International

Lenders and lending teams




Loan details

Loan length:

2 months
Repayment schedule: At end of term
Disbursed date: June 1, 2014
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International