Rs1450 Crores Infusion in ECGC
20K distinct exporters Benefitted in FY 2017-18 Government of India has approved capital infusion of Rs. 2,000 Crore to be released during FY 2017-18 to FY2019-20. So far, the capital is released during the FY 2017-18 was of Rs50Crores; FY 2018-19 released of Rs500Crores and now during the FY 2019-20, the proposal to release the rest amount of Rs1450Crores has been submitted and same shall be decided by the Ministry of Finance as per the availability of the fund. The capital infusion is necessary to strengthen ECGC underwriting capabilities to support MSME exports and exports to challenging & emerging markets like Africa, CIS and Latin American countries. During FY 2017-18, ECGC supported exports & export loans of Rs. 6.41 lakh crore. Around 20,000 distinct exporters are benefitted out of ECGC covers. Out of this, MSME share was more than 85%. The enhanced capital will enable ECGC to diversify its portfolio like factoring facilities to MSME exporters and a m