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Wednesday, January 16, 2008
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US Offers Credit Guaranteed for Exports to Eurasia

WASHINGTON – The US Department of Agriculture has announced the availability of the following credit guarantees for sales of US agricultural commodities under the Commodity Credit Corporation's Export Credit Guarantee Program for fiscal year 2008.

The total Amount Available is $110 million and the geographical Area covered includes Armenia, Azerbaijan, Georgia, Kazakhstan, Mongolia, Russia, Ukraine and Uzbekistan

The GSM-102 program helps ensure that credit is available to finance commercial exports of US 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.

Commodity Allocations

Exporters may apply for credit guarantees on a first-come, first-served basis. These guarantees are to cover sales of ALL commodities to:
  • Armenia
  • Azerbaijan
  • Georgia
  • Kazakhstan
  • Mongolia
  • Ukraine
  • Uzbekistan
Poultry meat and processed poultry meat products (fresh,chilled and frozen) are excluded from Russian credit guarantees.

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