Loans guaranteed by Kafalat down by 19 percent. Agriculture sector gained the largest share

Loans guaranteed by Kafalat
down by 19 percent
Agriculture sector gained the largest share
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The number of loans guaranteed by Kafalat declined by a yearly 19 percent to 676 in 2015. The volume of loans reached $93 million, a decrease by more than 14 percent.

The agriculture sector registered the largest share with 47 percent of these loans. “This is due to the increasing range of Kafalat products offered to farmers to finance reforestation, trees and other projects,” said Yolla Sarieddine, at Kafalat.

The industry sector came in second, with 34 percent, followed by the tourism sector (11 percent). Sarieddine said that industrial loans are higher in value than the other sectors.

The average value per loan increased from $130,731 in 2014 to $138,000 last year. The total value of loans guaranteed is around $94 million.

Mount Lebanon maintained its lead in market share (38 percent), followed by Bekaa 21 percent, South 13 percent, the North with a 12 percent, and Beirut by seven percent.
Reported by Rania Ghanem
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Date Posted: Jan 19, 2016