According to Kafalat, the number of loan guarantees grew to 475 guarantees by August 2016. The overall value of the guarantees rose 13.47% to reach $65.73M by August 2016 compared to a value of $57.93M during the same time in 2015.
In the first 8 months of the year, the top three beneficiaries of Kafalat guarantees were agriculture, industry and tourism sectors, with respective shares of 47.37%, 29.26%, and 17.89%. Kafalat guarantees for the tourism sector doubled from 2015 to 2016 in line with the recovering tourism sector, with the number of loan guarantees rising from 41 by August 2015 to 85 by August 2016. This can be justified by the improving indicators of the economic sectors such as occupancy rates and tourist arrivals.
The number of guarantees granted for the agricultural sector rose from 198 by August 2015 to 225 by August 2016, while loan guarantees for the industrial sector slightly fell from 149 to 139.
Geographically, 42.11% of the guarantees were granted in Mount Lebanon, followed by 24.21% disbursed in the Bekaa and 12.21% in the North. The number of guarantees reached 200, 115, and 58 in Mount Lebanon, Bekaa and the North, respectively.
Value of Kafalat Guarantees by August (in $M)