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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