Given the slow economic conditions in Lebanon, the number of Kafalat loan guarantees slumped yearly by 43.94% by December 2018 to reach 310. Accordingly, the overall value of the guarantees dropped by 40.92% year-on-year (y-o-y) to reach $40.10M in 2018 compared to a value of $67.88M during the same time in 2017.
During the year, the top three beneficiaries of Kafalat guarantees were agriculture, industry and tourism sectors, with respective shares of 37.42%, 37.10%, and 20%. As per sectors, the number of loans granted by Kafalat for the agricultural and industrial sector fell yearly by 45.28% and 39.15% to reach 116 and 115, respectively. Moreover, loan guarantees for the tourism sector declined from 120 in 2017 to 62 in 2018.
Regionally, the largest number of guarantees extended was in Mount Lebanon which grasped 43.23% of total loan guarantees, followed by 16.77% and 12.26% in each of the Bekaa and the North, respectively. The total number of guarantees stood at 134, 52, and 38 in Mount Lebanon, the Bekaa and the North, respectively.
Number and Value of Kafalat Guarantees by December