IIFL Home Finance Secures Major AIIB Investment for Green Affordable Housing

IIFL Home Finance has announced the acquisition of a USD 100 million financing package from the Asian Infrastructure Investment Bank (AIIB) to bolster affordable housing finance efforts in India. This strategic investment aims to improve access to housing loans for economically weaker sections and lower-income groups while encouraging green building practices.

The funds will facilitate home loans for families from low-income segments for purchasing or building homes in urban and semi-urban areas. Additionally, IIFL Home Finance will provide financial support to developers focused on affordable housing projects with green certification standards, thereby contributing to sustainability and reducing environmental impact.

Monu Ratra, CEO of IIFL Home Finance, emphasized that this collaboration underscores the company's dedication to climate-conscious housing finance. The announcement complements the Pradhan Mantri Awas Yojana Urban initiative and aligns with India's broader climate objectives, focusing on both underserved urban and semi-urban areas.

(With inputs from agencies.)