Exim Bank targets $ 7 billion in project export financing over 5 years

Export-Import Bank of India (Exim Bank) aims to finance USD 7 billion of project exports over the next five years.

The NEIA Trust, established by the Ministry of Trade and Industry in March 2006, provides export credit insurance coverage to promote medium and long term project exports from India.

The corpus injection will increase the exportability of the project with NEIA coverage of around Rs 33,000 crore over the next five years (equivalent to $ 4.5 billion), the bank said in a statement. .

“The capital injection will help harness the enormous potential of project exports to target markets. The Bank has currently supported 31 projects valued at USD 2.74 billion in 14 countries under the purchase credit program under the NEIA program, ” he said.

The opportunity for Indian exporters remains significant as the project exporters have already developed substantial competitiveness in several sectors and the financing options provided by Exim Bank are well recognized, he added.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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