The National Housing Bank (NHB), together with the European Union (EU) and the French Development Agency (FDA) is working on the launch of Sustainable Use of Natural Resources and Energy Finance (SUNREF) housing in India. SUNREF housing will endow €112 million to NHB via a credit line of €100 million with FDA and a €12 million grant from the EU.
This initiative signifies an effort to promote green housing developments in the country. The agreements were signed in July 2017. NHB has also previously harnessed foreign funds worth €50 million from KfW Germany for promoting green housing, which are energy and water efficient.
The credit facility and grant agreements were signed with NHB in July 2017 and the €100 million credit line will be disbursed between 2018 and 2020, over a three-year period.