ZCZC
BSS – 22
BANGLADESH-US-AGRICULTURE
US launches agro trade programme for Bangladesh
DHAKA, Feb 2, 2020 (BSS) – The USA has announced an agricultural trade
programme for Bangladesh to increase access to American agricultural products
for the local importers.
US Deputy Chief of Mission to Bangladesh JoAnne Wagner announced the scheme
named “USDA’s Export Credit Guarantee Program” at a seminar at the American
Center here today, a press release said here today.
The US Department of Agriculture (USDA) in cooperation with the Association
of Bankers, Bangladesh (ABB) hosted the seminar.
“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 of our countries,” Wagner said.
The Export Credit Guarantee Program provides credit guarantees to encourage
financing to purchase US agricultural products in Bangladesh.
This programme offers 5 billion US dollars in credit guarantees worldwide
each year to support commercial export sales of US agricultural goods to
markets, like Bangladesh, that have sufficient financial strength, said the
release.
Bangladesh is one of approximately 130 countries eligible for the credit
guarantee program.
Representatives from leading Bangladesh banks and top agricultural
importers attended the seminar.
After the seminar US Embassy Agricultural Attach, Tyler Babcock hoped that
multiple banks in Bangladesh will apply to enroll in the programme. This
programme guarantees payments for purchases of the USA food and agricultural
products by importers in Bangladesh.
Participating local banks can access US dollar financing for up to 12
months from US banks at potentially lower interest rates, added the release.
BSS/PR/TA/ARS/1657 hrs