Appendix II 
Agency Specific Information
Credit Programs
Table II.3: USDA Credit Programs' Face Value and Subsidy Cost (Fiscal Year 1990 Through December 31, 1994)
Dollars in thousands
Program end
Program
Face value
Subsidy cost
date
Food Aid Commodity Credits
$693,900
$457,333
To be
determined
GSM 102 Credit Guarantees
5,031,016
254,267
To be
determined
Total
$5,724,916
$711,600
USDA
 implemented the following two credit programs:
Food Aid Commodity
Through title I of Public Law 480 and the Food for Progress Program, 
USDA
Credits
provided for government to government sales of agricultural commodities
to 
FSU
 countries under long term credit arrangements. Repayments are in
U.S. dollars on credit terms up to 30 years, with up to a 7 year grace
period. The objectives of the program include providing food to combat
hunger, expanding international trade, expanding U.S. agricultural
commodity markets, and fostering the development of private enterprise
in the recipient country.
GSM 102 Credit
This program provides a guarantee to U.S. exporters or banking
Guarantees
institutions should foreign buyers fail to make payments on goods
purchased. The program provides short term (up to 3 years) credit to
foreign governments or private sector importers to help increase U.S.
exports of agricultural products, improve the competitive position of U.S.
products, and assist developing countries in meeting their food and fiber
needs.
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