Bangladesh's Prime Bank approved by USDA export credit guarantee programme

(The Independent, Dhaka, 23 August 2020) The Commodity Credit Corporation (CCC) of the United Stated has approved Bangladesh's Prime Bank to participate in the Export Credit Guarantee Program (GSM-102) of United States Department of Agriculture (USDA) for the smooth import of US agricultural commodities. Prime Bank is one of the first two banks in Bangladesh which have been approved as GSM-102 Approved Foreign Financial Institutions from Asia Region, said a press release. As an approved foreign financial institution, Prime Bank would be able to support its customers to import food and agricultural commodities from the US like cotton, soybeans, grains, cereals, woods, nuts, fruits among others under the guarantee coverage of GSM-102 Export Credit Guarantee Program administered by USDA, the statement said.