Asian Development Bank showers millions in green housing loans for low income Indian women

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<strong>The Asian Development Bank (ADB) and IIFL Home Finance Limited (IIFL) signed a $68 million loan aimed at facilitating green housing loans for lower-income women borrowers in India.</strong></p>
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The programme will support IIFL’s green housing portfolio, specifically towards incentivizing developers to adopt green certification standards in building affordable housing.</p>
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According to a statement issued by ADB, the funding comprises 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).</p>
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From ADB’s loan, 80 per cent will be earmarked for lending to women borrowers or co-borrowers and 20 per cent allocated to financing mortgages for green-certified homes.</p>
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“By leveraging IIFL’s focus on financial inclusion and CPFS’ leadership on climate-resilient housing, ADB can help low-income communities to manage the impacts of climate change,” said ADB Director General for Private Sector Operations Suzanne Gaboury.</p>