The focus of credit/insurance programs has shifted from the
program, which accounted for about 74 percent of all credit/insurance
programs from fiscal years 1991 to 1993, to the
and Eximbank loan
guarantee programs, which accounted for about 68 percent of credit/
insurance programs approved from fiscal year 1994 through December
Table I.7: U.S. Bilateral
Credit/Insurance Programs With the
Dollars in thousands
FSU by Agency (Fiscal Year 1991
Through December 31, 1994)
Food aid loans
GSM 102 loan
Subsidy cost does not apply to the OPIC insurance program because it does not fall under
Credit Reform requirements.
Credit Reform requirements apply to the Eximbank insurance program. However, Eximbank
cannot calculate subsidy figures for its insurance program on a per country basis, and as such,
could not provide subsidy figures for its insurance program in the FSU.
As shown in table I.8, Russia has been the largest recipient of U.S.
credit/insurance agreements. The large agreements with the Soviet Union
were for the
GSM 102 program.
As of June 1995, of the $838.3 million worth of signed OPIC loan guarantee agreements, private
lenders had disbursed $142.5 million, and of the $1.758 billion worth of signed Eximbank loan
guarantees, $13.5 million had been disbursed by private lenders. Eximbank had also disbursed
$83.8 million of the $88.8 million worth of the direct loans agreements.