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Corrected Announcement: USDA AMENDS GSM-102 CREDIT GUARANTEES FOR EXPORT SALES TO RUSSIA

***Corrected Announcement***

FAS program announcement FAS-00180-09 issued on Thursday, Aug. 20, 2009, regarding GSM-102 credit guarantees for export sales to Russia, erroneously reported allocation reductions from $100 million to $65 million and further stated that $62,867,031 of this amount had been utilized earlier in this fiscal year, leaving $2,132,969 available for all commodities, excluding poultry meat and processed poultry products. This announcement corrects the previously reported allocation reductions to $75 million and further states that, as of today, $70,903,032 of this amount has been utilized earlier in this fiscal year, leaving $4,096,968 available for all commodities, excluding poultry meat and processed poultry products.

WASHINGTON, Aug. 21, 2009 – The U.S. Department of Agriculture today reduced the availability of previously announced credit guarantees for sales of U.S. agricultural commodities to Russia under the Commodity Credit Corporation's Export Credit Guarantee Program (GSM-102) for fiscal year 2009.

On Sept. 30, 2008, USDA announced the availability of $400 million in available credit guarantees (under PR 0161-08) for export sales to Russia, with $300 million allocated for all commodities and $100 million allocated for all commodities, excluding poultry meat and processed poultry meat products.

As of today the allocation of $300 million for all commodities has been exhausted. Today’s announcement reduces the announced allocation for all commodities, excluding poultry meat and processed poultry products, from $100 million to $75 million. As of today, $70,903,032 of this amount has been utilized earlier in this fiscal year; therefore, $4,096,968 remains available for all commodities, excluding poultry meat and processed poultry products.

This announcement does not make available any new credit guarantees for sales to Russia. For updates on availability under this allocation, participants should see the FAS Web page or contact FAS using one of the methods noted below.

All other terms and conditions of PR 0161-08 remain unchanged.

POINTS OF CONTACT

For further information, contact the Registrations and Operations Branch of FAS at (202) 720-3224, or by e-mail at gsm.registrations@fas.usda.gov.

For the latest updates on FAS programs and activities, go to the FAS Web page at http://www.fas.usda.gov.

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PR 0192-09



 
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