According to Kafalat, the number of loan guarantees dropped from 138 guarantees by April 2018 to 30 loans by April 2019. The overall value of the guarantees also plunged from $18.19M in the same period of 2018 to reach $3.53M by April 2019.
The top three beneficiaries of Kafalat guarantees in the first 4 months of the year were: the industrial sector grasping 40% of the total followed by the agricultural sector and tourism sector with 26.7% each. Even though the industry sector took up the largest share of guarantees, the number of loan guarantees to the sector dropped from 54 loans by April 2018 to 12 loans by April 2019. The issued guarantees for each of the agricultural and tourism sectors also slid from 48 and 29 to 8 each.
Regionally, the largest number of guarantees extended was in Mount Lebanon which grasped 50% of total loan guarantees, followed by 20% and 13.33% in of the Bekaa and Beirut, respectively. The total number of guarantees stood at 15, 6, and 4 in Mount Lebanon, the Bekaa and Beirut regions, respectively.
Value & Number of Kafalat Loan Guarantees by April (in $M)