The US expands credit and agricultural aid to Venezuela to boost its exports
The U.S. Department of Agriculture unveiled an initiative to boost agricultural trade with Venezuela and contribute to the country's economic recovery, while opening up new business opportunities for U.S. producers and companies.
Stock image of agriculture
The Trump administration will extend Venezuela's economic opening to the agricultural sector, with measures aimed at facilitating the purchase of U.S. food and raw materials through financial guarantees, technical assistance and potential food aid programs.
According to Spain's ABC newspaper, the U.S. Department of Agriculture presented an initiative to boost agricultural trade with Venezuela and contribute to the country's economic recovery, while opening up new business opportunities for U.S. producers and companies.
The main measure involves the use of the GSM-102 program, through which the U.S. government will offer credit guarantees to help Venezuelan importers finance their purchases of agricultural products from the United States. The mechanism does not involve a direct transfer of funds to Venezuela but rather aims to reduce the risk for financial institutions backing the transactions.
The initiative also includes the lifting of restrictions so that eligible foreign banks can back Venezuelan transactions. Through this, Washington aims to expand the financing options available to importers and facilitate sales by U.S. exporters.
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More trade and technical assistance
The Department of Agriculture is considering including Venezuela in an upcoming regional agricultural trade mission, scheduled for early 2027. If this happens, representatives from U.S. companies would travel to the country to meet with buyers and importers.
The initiative also includes offering spots to Venezuelan scientists and researchers in short-term research and exchange programs, with the goal of contributing to agricultural capacity building in the country.
Washington is also evaluating the possibility of launching food aid programs, specifically targeting children, families in need and areas affected by the recent earthquakes. However, a specific amount of funding has not yet been approved, nor has the volume of food that could be sent been determined.
A new era of economic cooperation
According to ABC, the Trump administration seeks to extend the opening initiated in the energy sector to the agricultural and food sectors through increased trade, access to financing, and technical cooperation.
The Department of Agriculture also estimates that Venezuela will need to import 1.5 million metric tons of wheat during the 2026–27 crop year, a 10% increase. It also forecasts that the country will consume about 3 million metric tons of corn.
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