Washington announces Sudan’s eligibility for Export Credit Guarantee

[Elisabeth Janaina]

Washington announces Sudan’s eligibility for Export Credit Guarantee

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58-year-old Omar, a farmer from Tadamon Locality in Blue Nile state,
is a beneficiary of an agriculture project funded by the European
Union. (World Vision photo)
June 27, 2017 (KHARTOUM) - The U.S. Department of Agriculture’s
Foreign Agricultural Service (FAS) on Friday announced the addition of
Sudan as eligible countries under the Africa Middle East Region for
the Export Credit Guarantee Programme (GSM-102).

The GSM-102 programme provides credit guarantees to encourage
financing of commercial exports of U.S. agricultural products.

By reducing financial risk to lenders, credit guarantees encourage
exports to buyers in countries that have sufficient financial strength
to have foreign exchange available for scheduled payments.

The programme is available to exporters of high-value,
consumer-oriented, processed products such as frozen foods, fresh
produce, meats, condiments, wine and beer; intermediate products such
as hides, flour and paper products; and bulk products such as grains,
oilseeds and rice.

Last January, former President Barack Obama eased the 19-year economic
and trade sanctions on Sudan. The decision came as a response to the
collaboration of the Sudanese government on various issues including
the fight against terrorism.

On 12 July, several U.S. administration agencies will decide to
confirm Obama’s decision to permanently lift the sanctions or to
maintain it. Last week, Bloomberg reported that U. S. officials
involved in the process are supportive for the permanent lift of
sanctions on Sudan.

(ST)