OREANDA-NEWS. On September 29, 2008 Ministry of Agriculture of the USA has decided to increase the credit line for BTA Bank for participating in the programme of financing supplies of agricultural products from the USA (GSM-102 Programme) from 4 up to 25 million US dollars, reported the press-centre of BTA Bank.

Now BTA Bank is able to substantially raise volumes of financing for clients importing goods from the USA, which are specified by the above Programme with further provision of a loan to the importer with a tenor of up to 3 years. Such guarantees being available suggests a possibility to substantially decrease the cost of lending for the importer due to American banks refinancing obligations of the Russian bank on preferential terms.

GSM-102 Programme is the programme of the Commodity Credit Corporation under the US Ministry of Agriculture, aimed at supporting exporters of food and agricultural products from the USA to the Russian Federation and other countries; a loan to the importer under the Commodity Credit Corporation’s guarantee can be given under the Programme as well.