December 30, 2008

US to offer credit guarantee for wheat exports to Pakistan  

The USDA said on Monday (Dec 29) it will offer US$48 million in credit guarantees for wheat exports to Pakistan's state trading agency for the 2009 fiscal year.

The export credit guarantee programme helps ensure available credit to finance US farm products to developing countries.

Earlier on Monday, the Trading Corp of Pakistan issued an international tender to purchase 250,000 tonnes of US wheat, said traders.

The US has also stated earlier this month that it would donate 50,000 tonnes of US wheat worth US$18 million to Pakistan.