STOCK MARKET BSE NSE

Exim Bank targets USD 7 billion financing of project exports over five years

The bank said in a statement that the corpus infusion will enhance the project export possibility having cover by NEIA by about Rs 33,000 crore over the next five years.

Published: 13th October 2021 03:42 PM  |   Last Updated: 13th October 2021 03:42 PM   |  A+A-

Exim Bank, Export-Import Bank of India

Exim Bank (File photo| IANS)

By PTI

NEW DELHI: Export-Import Bank of India (Exim Bank) targets to achieve financing of USD 7 billion of project exports over the next five years with the government announcing fund infusion of Rs 1,650 crore in the National Export Insurance Account (NEIA) to boost project exports.

The NEIA Trust, set up by the Ministry of Commerce and Industry, in March 2006, provides export credit insurance cover for promoting medium and long-term project exports from India. The bank said in a statement that the corpus infusion will enhance the project export possibility having cover by NEIA by about Rs 33,000 crore over the next five years (equivalent to USD 4.5 billion).

"The capital infusion will help tap huge potential of project exports in focus markets. The Bank has currently supported 31 projects valued at USD 2.74 billion in 14 countries under the Buyer's Credit under NEIA programme," it said.

The opportunity for Indian exporters remains significant given the fact that the project exporters have already developed substantial competitiveness in several sectors and the financing options provided by Exim Bank are well recognised, it added.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp