US Department of Agriculture to organise export credit guarantee programme in Bangladesh
The programme will avail banks and importers of Bangladesh to purchase high-quality US agricultural products, said a press release
The US Department of Agriculture (USDA) and the Association of Bankers, Bangladesh (ABB) jointly held a seminar on organising a trade programme named Export Credit Guarantee Programme.
The programme will avail banks and importers of Bangladesh to purchase high-quality US agricultural products, said a press release.
The seminar was recently held at the American centre, where the US Deputy Chief of Mission JoAnne Wagner announced the trade programme, added the statement.
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She said, "Bangladesh is already a top export market for US agriculture, and there is clear potential to expand our trading relationship even further, to the benefit of both the countries. This programme will help us to do so."
The export credit guarantee programme will offer $5 billion in credit guarantees worldwide every year to support commercial exports of US agricultural goods to markets like Bangladesh that have sufficient financial strength. Participating local banks can access US dollar financing for up to 12 months from US banks at potentially lower interest rates.
After the seminar, US Embassy Agricultural Attaché Tyler Babcock said, "We hope multiple banks in Bangladesh will apply to enroll in the program."
Representatives from leading banks and top agricultural importers of Bangladesh attended the seminar.
