Legislation passed by the U.S. Congress includes provisions designed to foster exports of U.S. agricultural commodities. Provisions are intended to help U.S. exporters counter subsidized foreign competition; to develop new markets; and to provide food assistance programs for needy countries. These U.S. Department of Agriculture (USDA) programs assist foreign buyers of U.S. sunflower products in obtaining credit:
- GSM-102 Program
The Commodity Credit Corporation (CCC), U.S. Department of Agriculture, administers export credit guarantees for commercial financing of U.S. agricultural exports. The guarantees encourage exports to buyers in countries where credit is necessary to maintain or increase U.S. sales, but where financing may not be available without CCC guarantees. The Export Credit Guarantee Program (GSM-102) covers credit terms up to three years. GSM-102 underwrites credit extended by the private banking sector in the United States (or, less commonly, by the U.S. exporter) to approved foreign banks using dollar-denominated, irrevocable letters of credit to pay for food and agricultural products sold to foreign buyers. Use this link to find more information on the GSM-102 Program: Programs | USDA Foreign Agricultural Service
- Food Aid Programs
The U.S. Department of Agriculture's (USDA) Foreign Agricultural Service (FAS) helps provide U.S. agricultural commodities to assist millions of people in needy countries through direct donations and concessional programs. The U.S. government can provide food assistance through five program authorities: the Food for Progress Program, the McGovern-Dole International Food for Education and Child Nutrition Program, the Food for Peace Act (formerly referred to as Public Law 480, Titles I, II, and III), Section 416(b), and the Local and Regional Procurement Projects. The U.S. Agency for International Development (USAID) administers Titles II and III of the Food for Peace Act. USDA administers the remaining food aid programs. Both USDA and USAID facilitate the administration of the Bill Emerson Humanitarian Trust. Use this link to find more information on food aid programs: http://www.fas.usda.gov/food-aid.asp
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