Green housing: World Bank's investment arm nods $250 mn loan to HDFC
Real Estate

Green housing: World Bank's investment arm nods $250 mn loan to HDFC

World Bank Group's investment division International Finance Corporation (IFC) has approved $250 million loans to Housing Development Finance Corporation Limited (HDFC) for green housing projects.

IFC told the media that a partnership with HDFC Limited would help change opinions about green housing, which is considered a luxury. The World Bank Group arm said that at least 25% of the funding would be utilised for green affordable housing.

According to the statement, IFC’s $250 million loans to HDFC Limited will help its moves to increase its affordable housing and emerging green affordable housing portfolio by enhancing access to such housing for lower income people.

Renu Sud Karnad, Managing Director, HDFC, said that with the green affordable housing project, the firm is intending to support India deliver on its commitments under the Paris Agreement and reduce a third of its carbon emissions by 2030 from 2005 levels.

Karnad said that green and energy-efficient housing can further cut emissions, as residential housing records for about 24% of the total electricity consumption in the country.

Image Source


Also read: Affordable rental housing: DDA nods scheme under Delhi master plan

Also read: IIFL launches handbook for affordable green housing

World Bank Group's investment division International Finance Corporation (IFC) has approved $250 million loans to Housing Development Finance Corporation Limited (HDFC) for green housing projects. IFC told the media that a partnership with HDFC Limited would help change opinions about green housing, which is considered a luxury. The World Bank Group arm said that at least 25% of the funding would be utilised for green affordable housing. According to the statement, IFC’s $250 million loans to HDFC Limited will help its moves to increase its affordable housing and emerging green affordable housing portfolio by enhancing access to such housing for lower income people. Renu Sud Karnad, Managing Director, HDFC, said that with the green affordable housing project, the firm is intending to support India deliver on its commitments under the Paris Agreement and reduce a third of its carbon emissions by 2030 from 2005 levels. Karnad said that green and energy-efficient housing can further cut emissions, as residential housing records for about 24% of the total electricity consumption in the country. Image Source Also read: Affordable rental housing: DDA nods scheme under Delhi master plan Also read: IIFL launches handbook for affordable green housing

Next Story
Products

Smart Solutions

Hikvision’s advanced Boom Barriers streamline access control and traffic management with AI-enabled automation. Offering telescopic, folding, and fencing boom arms, these solutions enhance safety, efficiency, and security across residential, commercial, and industrial premises.Contact: HikvisionWebsite: www.hikvisionindia.com ..

Next Story
Products

Next-Gen Seal

Type 8628VL is a next-generation mechanical seal for multiphase ethane and ethylene pipelines. Featuring dual non-contacting seal faces with spiral groove technology, it ensures superior reliability, efficiency, and environmental compliance under volatile pressure and temperature conditions, validated by peer-reviewed research.Company Name: John Crane Website: https://www.johncrane.com/ ..

Next Story
Products

Smart Kitchen Chimney

KAFF’s NEWBURY 90 DC chimney combines sleek grey tempered glass design with a powerful BLDC motor, 8-speed gesture/touch controls, multidimensional extraction, LED lighting, filter-less Smart Auto Clean technology, and a 12-year motor warranty delivering elegance, quiet efficiency, and long-term reliability.Contact: KAFFWebsite: https://shorturl.at/WKUkh ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?