ECOBANK Nigeria is privileged to be
the first Nigerian Bank to have utilized
a credit line under the U.S. Department
of Agriculture (USDA) Export Credit
Guarantee Program. The GSM 102
Program provides credit guarantee to
encourage commercial financing of
U.S. agricultural commodity exports,
thereby assisting U.S. exporters in
making sales that might not otherwise
The Credit Line Under the US
Government Export Guarantee
Program is reserved exclusively for the
export of agricultural products from
the USA; it has facilitated increased
trade of Agricultural products
between US exporters and Nigerian
importers; It has provided an avenue
for competitively priced financing
for longer tenors to both exporters
and importers; It further provides
the exporter guaranteed payment; It
enables exporters to agree credit terms
with importers; There is no minimum
transaction size.
According to Ms. Foluke Aboderin,
Executive Director Corporate Bank,
the GSM 102 Facility which has the
ability to be up-sized, has been used for
Structured Trade Finance transactions
with Cargill Financial Services
International, one of the subsidiaries of
the Leading International Commodities
Trading House, CARGILL Inc.
Deutsche Bank played the role of
Confirming and Partner Bank.
The recognition of Ecobank, a member
of the Ecobank Group – the Pan-African
Bank, by the US government, further
highlights the unique advantages of
partnering with a counterparty who
has widespread foot print across the
African continent. With presence
in 36 countries in Africa, Ecobank
is well positioned to provide easy
access to international counterparties
that have transactions across Africa,
the emerging frontier market with
significant untapped opportunities and
strong demographics

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