The U.S. Grains Council (USGC) and USDA’s Foreign Agricultural Service (FAS) hosted the first of two free workshops on how to use the GSM-102 financing program to facilitate the export of U.S. ethanol this week in Chicago.

“The GSM-102 seminars are meant to assist U.S. ethanol industry representatives in learning more about how they can utilize this export credit guarantee program specifically for ethanol,� said USGC Director of Industry Relations Lyndsey Erb. “We had excellent questions solicited at the event in Chicago and are excited to see how this program may impact overall U.S. ethanol exports in the future.�

GSM-102 guarantees credit extended by private financial institutions in the United States to approved foreign financial institutions using dollar-denominated, irrevocable letters of credit for purchases of U.S. food and agricultural products by foreign importers. By reducing the financial risk to lenders, the program encourages imports in countries that are developing financially.

“The workshop in Chicago this week covered key features of the program, program eligibility, the advantages of using GSM-102, logistics and previous success stories,� Erb said. “We will cover similar topics and answer questions during a second workshop set to be held in Houston this summer.�

The forum in Houston will be at the Houston Marriott West Loop by The Galleria on June 17, from 1- 3 p.m. There is no registration charge for this event.

Additional details and registration information are available from Rebecca Kane, USGC meeting planner, at (202) 789-0789 or rkane@grains.org.

Click here for more information on the GSM-102 program.