The number of loans guaranteed by Kafalat during the first six months of  2014 increased to 438 from 388 during the same period for the year previous.

“There are multiple factors for the increase, especially that in 2011 to 2013, the number had decreased, so we were bound to do better,” said Khater Abi Habib, Chairman of the Board of Directors for Kafalat. 

A slight decrease in loan guarantees in 2011 was followed by a negative 18 percent in 2012 and 13 percent drop in 2013.

For  first half 2014, agriculture had  50 percent share of these loans. Industry had a 34 percent share.  Abi Habib said that industry continues to perform well as it provides value-added and customized services, especially in interior design, furniture, and other industrial outputs. The value of loans for the first half reached $56.5 million.

Kafalat is a financial company that supports the access of small and medium sized enterprises (SMEs) to commercial bank financing. Its guaranteed loans benefit from interest rate subsidies by the Central Bank.