Kafalat guarantees down

Agriculture sector top beneficiary

The number of Kafalat-guaranteed loans to small and medium enterprises (SMEs) fell by 26 percent to 388 in the first half of 2013. Figures released by the Kafalat Corporation show the total value of loans fell by 24 percent year-on-year to $54 million.

The average loan size rose by two percent to $139,000. Mount Lebanon accounted for 38 percent of loans, followed by the Bekaa (24 percent), the South (11.6 percent), the North (ten percent), Nabatieh (eight percent), and Beirut (7.7 percent).

The agricultural sector accounted for around 40 percent of total guarantees, followed by industry with 34 percent, and tourism with 17 percent. Handicraft projects captured five percent of the loans, and projects in specialized technologies held three percent.