Includes how major projects are financed and gives examples where relevant. Explains activities of the multilateral development banks in and other aid-funded projects where procurement is open to U.S. bidders.
Last Published: 2/17/2019

Venezuela is eligible to receive USDA’s General Sales Managers-102 (GSM-102) credit guarantees to help facilitate U.S. agricultural exports.  The coverage is under the regional South American GSM-102 program.  No Venezuelan banks have been approved, so sales made to Venezuela must be conducted through a third-country bank eligible to participate.  The economic crisis has limited use of GSM-102, as the volume of imports for all commodities is down significantly. The program has been used mostly to restructure sales made by multi-national grain traders, but can be used for other agricultural or processed food products.

The U.S. Export-Import (Ex-Im Bank) does not process applications in the public and private sector for Venezuela.

Multilateral Development Banks:

The Inter-American Development Bank (IDB) and the Andean Development Corporation (CAF) are both multilateral financial institutions that offer project financing in Venezuela.  The Commercial Service maintains Commercial Liaison Offices in several Multilateral Development Banks, including the World Bank and the IDB.  These institutions lend billions of dollars in developing countries on projects aimed at accelerating economic growth and social development by reducing poverty and inequality, improving health and education, and advancing infrastructure development.  The Commercial Liaison Offices help American businesses learn how to get involved in bank-funded projects, and advocate on behalf of American bidders.  Learn more by contacting the Commercial Liaison Offices to the World Bank and to the Inter-American Development Bank.
 

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