WASHINGTON, D.C. (RFD NEWS) — The U.S. Department of Agriculture (USDA) and the Export-Import Bank are launching a new export finance initiative to expand overseas sales of U.S. farm products and narrow the agricultural trade deficit. The announcement pairs a broader USDA-EXIM partnership with USDA’s new FARM Initiative, short for Financial Assurance to Revitalize Markets.
USDA said the initiative is designed to strengthen and modernize export credit support for agriculture. The effort brings together USDA’s financing tools and EXIM’s role as the federal export credit agency to help exporters, lenders, and foreign buyers work with more certainty.
The package includes several practical changes. USDA said it is expanding banking participation, increasing access in higher-risk markets, and offering 100 percent coverage for payment guarantees so exporters can pursue more business abroad.
Officials said EXIM will complement the $5.5 billion authorized under USDA’s GSM-102 export credit guarantee program. The agencies also pointed to EXIM export credit insurance and working capital loan guarantees as added tools for exporters.
USDA said the broader goal is to improve competitiveness, open more markets, and give American agriculture a stronger financing platform as trade policy and global competition continue to shift.
