Government Policy

US launches agro trade programme for Bangladesh

DHAKA 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.

Source: Bangladesh Sangbad Sangstha (BSS)