+
 IIFL HFL inks $68 mn loan with ADB to fund affordable green housing
Real Estate

IIFL HFL inks $68 mn loan with ADB to fund affordable green housing

IIFL Housing Finance Limited (HFL), a digital-first home finance firm, declared that it has inked a $68 million loan with Asian Development Bank (ADB) to enhance financial access to affordable green housing for lower-income groups in India.

The funding includes a direct ADB loan of up to $58 million and a $10 million concessional loan by the Canadian Climate Fund for the Private Sector in Asia (CFPS). From ADB’s loan, 80% will be allocated for lending to women borrowers or co-borrowers, and 20% will be assigned to financing mortgages for green-certified houses. The CFPS loan will help IIFL HFL’s green housing portfolio, especially towards incentivising developers to adopt green certification standards in developing affordable housing, as per the statement.

Monu Ratra, MD & CEO, IIFL HFL, told the media that funding from ADB will support them in boosting the penetration of green affordable housing in deeper markets of India and meet the dreams of many Indian families to own their homes.

By leveraging IIFL HFL’s emphasis on financial inclusion and CPFS’ leadership on climate-resilient housing, ADB can support low-income communities to handle the influence of climate change, as per ADB Director General, Private Sector Operations Suzanne Gaboury. They are pleased to help IIFL in explaining to the construction industry that they can develop both affordable and green-certified housing for low-income households.

In alignment with the Government of India’s commitment towards ‘Housing for All’, IIFL HFL renders affordable house loans to Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Group (MIG). Home loans have been disbursed to more than 1,40,000 borrowers as of September 30, 2021.

The loan contract is supplemented by a technical assistance (TA) grant of up to $1 million for helping the green building ecosystem in the affordable housing sector in the nation. It is ADB’s first such private-sector agreement in the nation.

Striving to allow activities addressing some of the major identified obstacles for building the ecosystem for green-certified and affordable housing. IIFL HFL shall even add an amount of up to $1,50,000, for helping the above-mentioned activities and objectives as described in the Tentative agreements (TA).

IIFL HFL said it has already been propagating green affordable housing in India via its platform ‘Kutumb’, which is a green building initiative addressing affordable housing projects concerning problems relating to financing, technical know-how of green construction and certification and Environmental, Social and Governance (ESG) compliance.

Image Source

Also read: IIFL Home to issue up to Rs 1,000 cr of retail bonds on Dec 8

IIFL Housing Finance Limited (HFL), a digital-first home finance firm, declared that it has inked a $68 million loan with Asian Development Bank (ADB) to enhance financial access to affordable green housing for lower-income groups in India. The funding includes a direct ADB loan of up to $58 million and a $10 million concessional loan by the Canadian Climate Fund for the Private Sector in Asia (CFPS). From ADB’s loan, 80% will be allocated for lending to women borrowers or co-borrowers, and 20% will be assigned to financing mortgages for green-certified houses. The CFPS loan will help IIFL HFL’s green housing portfolio, especially towards incentivising developers to adopt green certification standards in developing affordable housing, as per the statement. Monu Ratra, MD & CEO, IIFL HFL, told the media that funding from ADB will support them in boosting the penetration of green affordable housing in deeper markets of India and meet the dreams of many Indian families to own their homes. By leveraging IIFL HFL’s emphasis on financial inclusion and CPFS’ leadership on climate-resilient housing, ADB can support low-income communities to handle the influence of climate change, as per ADB Director General, Private Sector Operations Suzanne Gaboury. They are pleased to help IIFL in explaining to the construction industry that they can develop both affordable and green-certified housing for low-income households. In alignment with the Government of India’s commitment towards ‘Housing for All’, IIFL HFL renders affordable house loans to Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Group (MIG). Home loans have been disbursed to more than 1,40,000 borrowers as of September 30, 2021. The loan contract is supplemented by a technical assistance (TA) grant of up to $1 million for helping the green building ecosystem in the affordable housing sector in the nation. It is ADB’s first such private-sector agreement in the nation. Striving to allow activities addressing some of the major identified obstacles for building the ecosystem for green-certified and affordable housing. IIFL HFL shall even add an amount of up to $1,50,000, for helping the above-mentioned activities and objectives as described in the Tentative agreements (TA). IIFL HFL said it has already been propagating green affordable housing in India via its platform ‘Kutumb’, which is a green building initiative addressing affordable housing projects concerning problems relating to financing, technical know-how of green construction and certification and Environmental, Social and Governance (ESG) compliance. Image Source Also read: IIFL Home to issue up to Rs 1,000 cr of retail bonds on Dec 8

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?