WASHINGTON, April 30, 2008 – 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 2008. This amendment is a cancellation of the available balance of $5 million under the original $5 million announcement on Jan. 11, 2008, for the GSM program for Southeast Balkan Region:
Cancelled Amount: $5 million
Geographical Area: Albania, Bulgaria, Macedonia, Moldova and Romania
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, 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.
This program announcement is issued in accordance with title 7, section 1493.10(d), of the Code of Federal Regulations.
POINTS OF CONTACT
For further information, contact the Registrations and Operations Branch of FAS at (202) 720-3224, or by e-mail at gsm.registrations@fas.usda.gov.
For the latest updates on FAS programs and activities, go to the FAS Web page at http://www.fas.usda.gov.
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PR 0078-08
