USDA Accepting Applications for Facility Guarantee Program
September 21, 2016 | Except from: United States Department of Agriculture
The U.S. Department of Agriculture (USDA) is accepting applications for projects funded under the Facility Guarantee Program (FGP). Deputy Under Secretary for Farm and Foreign Agricultural Services Jonathan Cordone made the announcement today at the U.S.-Africa Business Forum in New York.
The program provides credit guarantees to help establish or upgrade facilities or infrastructure in emerging markets, enhancing the ability of those countries to import U.S. agricultural commodities.
“International markets and exports are incredibly important to American agriculture, and the Facility Guarantee Program is an important tool to help American producers export into emerging markets around the world,” said Cordone.
The African continent includes many of the world’s top emerging markets, where economic growth and a rising middle class are driving consumer demand for high-quality farm and food products.
“USDA is pleased to announce that this program is available to finance infrastructure projects that facilitate agricultural trade for the benefit of African consumers and American producers,” said Cordone.
Examples of projects that could be funded under the FGP include improvements to cold storage facilities for imported perishable products, purchases of equipment to upgrade processing facilities for imported grains and oilseeds, or procurement of vehicles to transport imported goods from ports to distribution facilities.
More information on the program, including application details, is available:
USDA is publishing a final rule with request for public comments in the Sept. 22, 2016, Federal Register, outlining changes designed to expand program coverage and streamline the application process, enhancing the program’s ability to support U.S. agricultural exports.
Comments on the rule must be received by March 20, 2017.
USDA Contact: Amy Slusher (202) 720-6211