WASHINGTON, Aug. 8, 1997 -- The U.S. Department of Agriculture
has issued an interim final rule, with request for comments, to
establish a new Commodity Credit Corporation (CCC) Facility
Guarantee Program (FGP).
"This new program provides payment guarantees to
facilitate the financing of manufactured goods and services
exported from the United States to improve or establish
agriculture-related facilities in emerging markets," said
Christopher E. Goldthwait, general sales manager for the U.S.
Department of Agriculture's Foreign Agricultural Service.
"By supporting such facilities, we will enhance sales of
U.S. agricultural commodities and products to emerging markets
where the demand for them may be constricted due to inadequate
storage, processing, or handling capabilities," he said.
FGP credit guarantees will be approved where the U.S. exporter
has sufficiently demonstrated that such projects will primarily
benefit U.S. agricultural exports. For example, an FGP project
could improve a port's ability to handle and store imported U.S.
grain, expand the capacity of a feed compounding plant, support
the sale of refrigeration equipment to a cold-storage warehouse,
or provide animal health products and/or veterinary services to
The FGP interim final rule was published on Aug. 8, 1997, in
the Federal Register. It amends regulations found at 7
C.F.R. 1493, CCC Export Credit Guarantee Programs, by adding a
new subpart C, Facility Guarantee Program.
A benefit-cost analysis on the FGP, which is summarized in the
interim rule, is available from Mark Rasmussen, CCC Operations
Division, Export Credits, FAS/USDA, 1400 Independence Avenue SW,
Stop 1035, Washington, DC 20250-1035; phone (202) 720-1537; fax
The FGP interim rule will be effective as of Aug. 8, 1997.
Public comments on the interim rule must be submitted in writing
on or before Oct. 7, 1997, to L.T. McElvain, Director, CCC
Operations Division, Foreign Agricultural Service, U.S.
Department of Agriculture (USDA), 1400 Independence Ave., SW,
Stop 1035, Washington, DC 20250-1035; FAX (202) 720-2949.
Questions regarding the interim rule regulations may be
directed to William Hawkins, phone (202) 720-3241; FAX (202)
720-0938. Copies of the Federal Register can be obtained
from the Government Printing Office (GPO) and can be seen at any
local Federal Depository Library. To order copies call the GPO at
(202) 512-1803. The Federal Register is also available on
the Internet at http://www.access.gpo.gov/su_docs/aces/aces140.html,
the Government Printing Office Home Page.
The interim rule and other information about CCC and USDA
programs, resources, and services is also available on the FAS
Home Page at http://www.fas.usda.gov