The Cabinet on 29th September 2021 has approved the continuation of the National Export Insurance Account (NEIA)scheme and infusion of Rs. 1,650 crore grant-in-aid over 5 years from 2021-2022 to 2025-2026.
NEIA Trust was established to promote project exports from India that are of strategic and national importance. 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.
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 and Its impact in enabling project exports has been most significant in Africa and South Asia.
