PROGRAM ANNOUNCEMENTS EXTENDING $150 MILLION IN CREDIT GUARANTEES 
                                                                       

							Release No. 0425.97

						Carolyn Harris (202) 690-1851		
						harrisc@fas.usda.gov

USDA ISSUES PROGRAM ANNOUNCEMENTS EXTENDING $150 MILLION IN CREDIT
GUARANTEES TO 12 COUNTRIES UNDER THE FACILITY GUARANTEE PROGRAM (FGP)

     BUENOS AIRES, Dec. 3, 1997--The U.S. Department of Agriculture (USDA)
will issue today five program announcements authorizing $150 million in
credit guarantees for export sales of U.S. capital goods and services to
improve existing agriculture-related facilities in 12 emerging markets
(listed below) under the Commodity Credit Corporation's (CCC) Facility
Guarantee Program (FGP) for fiscal year 1998.  USDA has determined that the
countries listed clearly meet the legislated criteria for inclusion in this
pilot program.  In addition, USDA will consider requests to program
countries not covered by the announcements where the country is eligible to
participate in the Export Credit Guarantee Program (GSM-102) and where an
exporter has evidence to suggest that the FGP would primarily benefit U.S.
agricultural exports.

          Countries/Regions                  Credit Allocation

          Caribbean Region                   $20 Million
          Jamaica
          Trinidad and Tobago

          Central America Region             $30 Million
          Costa Rica                         
          El Salvador
          Guatemala
          Panama

          Mexico                        $50 Million

          Peru                          $10 Million

          Southeast Asia Region              $40 Million
          Indonesia
          Malaysia
          Philippines
          Thailand

     "The FGP is a new export program that will assist U.S. farmers by
expanding markets overseas for U.S. agricultural commodities and products,"
said Secretary of Agriculture Dan Glickman.  

     "In some markets, U.S. agricultural exports are hampered by inadequate
infrastructure," he said.  "For example, the FGP provides credit guarantees
for capital goods and services to assist an emerging market in developing
infrastructure that also benefits U.S. agricultural exports.  FGP credit
guarantees may be used to increase the storage capacity of grain handling
facilities that primarily store U.S. grain or cold storage facilities that
primarily refrigerate U.S. fruits, vegetables, and meat in other countries." 

     These program announcements invite exporters to submit applications
for FGP coverage.  CCC will approve applications where evidence exists that
such a facility will primarily benefit U.S. agricultural exports.  For
guidance in obtaining market information to support the benefit for U.S.
agricultural exports for a proposed project, applicants may contact William
S. Hawkins, Chief, Export Programs Survey and Review Branch, CCC Operations
Division, Export Credits, Foreign Agricultural Service, USDA, Stop 1035,
Washington, D.C. 20250-1035; tel.: (202) 720-3241; fax: (202) 720-0938.

     Programming requests may be submitted to Kerry Reynolds, Director,
Program Development Division, Export Credits, Foreign Agricultural Service,
USDA, Stop 1034, Washington, D.C. 20250-1034; tel.: (202) 720-4221; fax:
(202) 690-0251.   

     More information about the FGP can be obtained from the home page of
USDA's Foreign Agricultural Service on the Internet at
http://www.fas.usda.gov.  
 
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