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Article: CFC Closes on Government Guaranteed Funding Program that Benefits Rural Development.
- Article from:
- Business Wire
- Article date:
- June 14, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HERNDON, Va. -- National Rural Utilities Cooperative Finance Corporation ("CFC") announced today that it closed on a $1 billion loan facility from the Federal Financing Bank guaranteed by the U.S. Department of Agriculture ("USDA"). CFC will pay a semi-annual guarantee fee that has been designated to fund the USDA's Rural Economic Development Loan and Grant Program ("REDL&G"), which supports economic development projects in rural America. The closing was held at USDA headquarters in Washington, D.C.
CFC Chief Executive Officer Sheldon C. Petersen said, "Today's closing is another example of the commitment of CFC, the National Rural Electric Cooperative ...