IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 03 Aug 2012 | Removal date: open ended

Trade finance

On 3 August 2012, the Department of Agriculture approved funding to support an export operation carried out by Gsts Llc. The total amount granted was USD 19 million. The operation was located in United States of America. The support was granted through the Export Guarantee Program programme.

The Export Credit Guarantee Program (GSM-102) provides credit guarantees to encourage financing of commercial exports of U.S. agricultural products. By reducing financial risk to lenders, credit guarantees encourage exports to buyers in countries, mainly developing countries that have sufficient financial strength to have foreign exchange available for scheduled payments. The program guarantees credit extended by the private banking sector in the U.S. (or, less commonly, by the U.S. exporter) to approved foreign banks using dollar-denominated, irrevocable letters of credit for purchases of U.S. food and agricultural products by foreign buyers. USDA Foreign Agricultural Service (FAS) administers the program on behalf of the Commodity Credit Corporation (CCC), which issues the credit guarantees.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

019 Forage; natural rubber; living plants; raw vegetable materials
0602 Other live plants (including their roots), cuttings and slips; mushroom spawn.
060210 Unrooted cuttings and slips
060220 Trees, shrubs and bushes, grafted or not, of kinds which bear edible fruit or nuts
060230 Rhododendrons and azaleas, grafted or not
060240 Roses, grafted or not
060290 Other
041 Fish, live, not for human consumption
0301 Live fish.
030111 Freshwater
042 Fish live, fresh or chilled for human consumption
0301 Live fish.
030192 Eels (Anguilla spp.)
030199 Other
216 Vegetable oils
1512 Sunflowerseed, safflower or cottonseed oil and fractions thereof, whether or not refined, but not chemically modified.
151211 Crude oil
151219 Other
151221 Crude oil, whether or not gossypol has been removed
151229 Other

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