Value of Kafalat Guarantees down to $32.68M by July 2018

According to Kafalat, the number of issued loan guarantees decreased from 342 by July 2017 year on year to reach 251 guarantees by July 2018. The overall value of the guarantees also declined from $41.55M by July 2017 to $32.68M by July 2018. The decline in total guarantees demonstrates the economic slump suffered by Lebanon’s key sectors.

According to a geographic breakdown, the number of issued guarantees in Mount Lebanon (constituting  43.03% of the total guarantees) fell from 153 by July 2017 to 108 by July 2018.

The second largest region benefitting from Kafalat guarantees is the region of Bekaa with a share of 17.53% in the total. The number of issued guarantees in the Bekaa region was slashed by 38.03% to stand at 44 guarantees by July 2018.

In terms of sectors, the industrial sector grasped 37.85% of the total issued guarantees but saw a decline in guarantees from 116 guarantees by July 2017 to 95 guarantees by July 2018. Agriculture followed with a share of 37.05% of total issued guarantees declining from 142 guarantees by July 2017 to 93 by July 2018. Moreover, the tourism sector’s guarantees ( constituting 19.92% of the total ) followed the trend and dropped by a yearly 25.37% from 67 by July to 50 by July 2018.

 

Number of Issued Kafalat Guarantees by July of Each Year

Value of Kafalat Guarantees down to $32.68M by July 2018

Source: Kafalat

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