NEWSFLASH

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US CREDIT FOR RP AGRICULTURE

Manila, Dec. 14, 1997 - The Philippines is one of the recipients of $150 million in credit guarantees to 12 "emerging markets" in Asia, the Caribbean region and Central America.

The loan is a pilot program to help emerging markets to better cope with globalization by increasing the storage capacity of food-handling facilities.

Covered by the program are facilities that primarily store US grain and US fruits, vegetables and meat.

A US government announcement said that "the ability to sell US agricultural exports has been hampered by inadequate infrastructure in some markets."

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