Agency Specific Information
Table II.3: USDA Credit Programs' Face Value and Subsidy Cost (Fiscal Year 1990 Through December 31, 1994)
Dollars in thousands
Food Aid Commodity Credits
GSM 102 Credit Guarantees
implemented the following two credit programs:
Food Aid Commodity
Through title I of Public Law 480 and the Food for Progress Program,
provided for government to government sales of agricultural commodities
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
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