Kafalat issued 796 guarantees in the first 11 months of 2014, with a total value of 103.28M, compared to 806 guarantees worth $108.57M for the same period in 2013. Correspondingly, the average value per loan edged up from $134,703 by November 2013 to $141,095 this year.
The agriculture sector was the main sector to benefit from Kafalat guarantees with a share of 48.24%, followed by industry and tourism, with respective shares of 35.18% and 11.18% for the first 11 months of 2014. The guarantees of the agriculture and industry sectors increased by 42 and 5 to 384 and 280, respectively. Meanwhile guarantees in the tourism sector actually declined by 46 to reach 89, caused by the poor political and economic environment.
As for the regional breakdown, Mount Lebanon continued to grasp the majority of guarantees, with a 42.34% share, followed by respective shares of 19.72% and 12.19% for the Bekaa and South regions. The guarantees issued in Mount Lebanon jumped up to 337 guarantees, from a previous 322, while the Bekaa and the South witnessed declines from 178 and 106 guarantees to 157 and 97 guarantees, respectively, by November 2014.
In November alone, Kafalat issued 64 guarantees, representing a 14.67% drop from 75 guarantees in the same month last year. The value of loans guaranteed by Kafalat totaled $9.58M in November 2014, up from $9.57M November 2013. Accordingly, the average value per loan stood at $149,673 up from $127,621 per loan in November 2013.