Thursday, April 2, 2009

USDA Amends GSM-102 Credit Guarantees for Export Sale to Central America Region

WASHINGTON, March 30, 2009 – The U.S. Department of Agriculture today amends the availability of the following credit guarantees for sales of U.S. agricultural commodities under the Commodity Credit Corporation's Export Credit Guarantee Program (GSM-102) for fiscal year 2009.

  • Additional Amount Available: $200 million
  • Geographical Area: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama
With today’s announcement, a total of $550 million has been made available in the Central America Region during the fiscal year 2009.

The GSM-102 program helps ensure that credit is available to finance commercial exports of U.S. agricultural products to developing countries, while providing competitive credit terms in these countries. Under this program, the Commodity Credit Corporation (CCC) reduces the financial risk to lenders by guaranteeing payments due from approved foreign banks to exporters or financial institutions in the United States.

See rest of the story and the data here.

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