Mortgage major HDFC said in the statement that it has set aside $300 mn or 75% of IFC-granted funds for financing green-affordable housing units. According to credible reports approx. 275 million people in India or 22% of the population still do not have access to adequate housing.
Mortgage giant HDFC has received a USD 400 million credit line to support and finance green affordable housing units, from The International Finance Corporation (IFC); as part of IFC’s commitment towards supporting climate goals
HDFC and IFC in two separate releases to the media said that credit will help in closing the urban housing gap as well as improve access to climate-smart affordable homes by boosting green housing, which simultaneously will support the country’s shift towards a path of sustainable growth and help in creating jobs.
Mortgage major HDFC said in the statement that it has set aside $300 mn or 75% of IFC-granted funds for financing green-affordable housing units. According to credible reports approx. 275 million people in India or 22% of the population still do not have access to adequate housing.
“With a growing need for affordable housing and a largely underpenetrated market, IFC’s loan to HDFC underscores the fact that lending to the underserved populations is viable”, said Hector Gomez Ang, regional director for South Asia at IFC.
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