IIFL Home Finance Secures $100 Million from AIIB for Green Affordable Housing

IIFL Home Finance Limited (IIFL HFL) has announced securing a USD 100 million financing deal from the Asian Infrastructure Investment Bank (AIIB) to bolster its efforts in the affordable housing sector. This funding aims to enhance financial access for economically weaker sections and lower income groups in India.

The investment will enable IIFL HFL to offer home loans to families within urban and semi-urban areas, focusing on economically weaker sections and lower income groups, thereby facilitating homeownership. Additionally, the company plans to support affordable housing developers in projects that incorporate green building certifications, contributing to environmental sustainability.

Monu Ratra, Executive Director and CEO of IIFL Home Finance, emphasized the significance of the funding to expanding homeownership for underserved families and advancing sustainable housing. Gregory Liu from AIIB reaffirmed the bank's commitment to inclusive and sustainable infrastructure by aiding India's green building movement and addressing housing needs for low-income populations.

(With inputs from agencies.)