In the September 22, 2016, Federal Register, USDA's Foreign Agricultural Service and Commodity Credit Corporation amended the regulations used to administer the Facility Guarantee Program ("FGP"). Under the FGP, the Commodity Credit Corporation may issue payment guarantees in connection with sales of goods or U.S. services to establish or improve agricultural-related facilities in emerging markets to expand exports of U.S. agricultural commodities or products. This final rule incorporates statutory changes from the Food, Conservation, and Energy Act of 2008 and modifications intended to reduce the burden on participants and improve program efficiency and effectiveness. Certain revisions will ensure the FGP is operated in compliance with the Organisation for Economic Co-operation and Development Arrangement on Officially Supported Export Credits. Additionally, this final rule incorporates significant changes previously made to the regulations for the Export Credit Guarantee Program that are also applicable to the FGP. The rule was effective September 22, 2016, but comments are accepted until March 21, 2017.
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