Government of India has approved continuation of the National Export Insurance Account (NEIA) scheme and capital infusion of Rs. 1,650 crore Grant-in-Aid to NEIA over a period of five years, i.e. from FY 2021-2022 to FY 2025-2026.
About:
NEIA Trust was established in 2006 to promote Medium and Long-Term (MLT)/ project exports by enabling credit and political insurance.
NEIA supports projects which are commercially viable and are strategically important.
Since inception, NEIA has extended 213 covers, with a consolidated project value of Rs. 53,000 crores, to 52 countries as of 31st August 2021
Its impact in enabling project exports has been most significant in Africa and South Asia.
The capital infusion in NEIA Trust will help the Indian Project Exporters (IPE) to tap the huge potential of project exports in focus market.
The NEIA Trust promotes Medium and Long Term (MLT) /project exports by extending (partial/full) support to covers issued by ECGC (ECGC Ltd, formerly known as Export Credit Guarantee Corporation of India Ltd.) to MLT/project export and to Exim Bank for Buyer’s Credit (BC-NEIA) tied to project exports from India.
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