| Webster's Online Dictionary |
| Expressions | Domain | Definition | |
| Blended credit | Agriculture | A federal export promotion program operated from 1983 to 1985 by the Foreign Agricultural Service. Federally guaranteed commercial loans at market interest rates (GSM-102) were combined (blended) with direct export credits (GSM-5) issued by the CCC at zero interest. This subsidized credit was made available to selected countries for a limited number of agricultural commodities. The program was terminated in 1985 when a federal judge determined that commodities shipped under blended credit were subject to cargo preference laws, which would have required that 50% of blended credit exports be shipped on higher-cost U. S.flag vessels. (references) | |
Source: compiled by the editor from various references; see credits. | Top | ||
