TeachMeFinance.com - explain Export credit revolving fund
Export credit revolving fund The term 'Export credit revolving fund ' as it applies to the area of agriculture can be defined as ' The Agriculture and Food Act of 1981 authorized a revolving loan fund that would provide short-term and intermediate-term direct credit for export sales of agricultural commodities, breeding animals, and handling facilities in developing markets. Once capitalized, loans would be made from the initial fund and repayments of principal and interest would return to the fund to be revolved as new loans. Money was never appropriated to capitalize the revolving fund and its statutory authority was eliminated in the FACT Act of 1990'.
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