June 20, 2011- Loans extended to small- and medium-size companies under the guarantee of Kafalat reached $52 million in the first four months of 2011, down 12.5 percent from $59.6 million in the same period last year, according to figures released by the Kafalat Corporation.

The number of loan guarantees totaled 381 till April compared to 507 in the same period last year.

The average loan size reached $136,000 compared to $117,000 in the first four months of 2010.

The industrial sector accounted for 42 percent of total guarantees, followed by agriculture with 37 percent, tourism with 17 percent, and specialized technologies and handicraft with two percent each.

Kafalat is a state-sponsored organization that provides financial guarantees for loans up to $400,000 earmarked for the set up and expansion of small and medium-size companies in productive sectors.