Complex Made Simple

Loans to SMEs in Lebanon fall 11.4% in H1

Lebanon's Kafalat Corp has said loans extended to small and medium companies under the guarantee of state-sponsored firm fell 11.4% year-on-year to LL107.6bn ($71.4m) in the first six months of 2012, The Daily Star has reported. The total number of guarantees also fell by 11.8% year-on-year to 523. Industry and agriculture captured the lion's share in extended guarantees in the first six months of this year, with 202 (or 38.6% of total guarantees) and 193 (or 36.9% of total guarantees), respectively. Tourism came in next with 97 guarantees (18.6%), followed by handicrafts with 23 guarantees (4.4%) and specialised technologies with eight guarantees (1.5%), Kafalat said.