TASHKENT, May 1. /Dunyo IA/. JSCB Uzbek Industrial and Construction Bank (SQB) became a participant of GSM-102 program of the United States Department of Agriculture (USDA) and established cooperation on issuing guarantees for attraction of trade finance credit lines, reports Dunyo IA correspondent.

The program provides guarantees to US banks to finance imports of various raw materials such as food products, essential oils, chemicals, silk, semi-finished and other finished goods and raw materials to support US exports.

Currently, about 30 banks around the world have joined the program, and SQB has become the first participant from Central Asian countries.

This cooperation has been established within the framework of the comprehensively developing partnership between Uzbekistan and the United States of America and will contribute to the expansion of trade flows between the two countries in the future.

The GSM-102 Export Credit Guarantee Programme was established by the US Department of Agriculture in 1981 and specializes in providing guarantees to US financial institutions to support US exports.