AIIB has partnered with IIFL Home Finance Limited to provide USD 100 million for enhancing financial access to affordable housing in India, targeting low-income groups while promoting sustainability.

Target Information

The Asian Infrastructure Investment Bank (AIIB) has established a USD 100 million (equivalent to Indian Rupees) financing facility with IIFL Home Finance Limited (IIFLHF) aimed at enhancing financial access to affordable housing in India. This initiative specifically caters to the economically weaker sections (EWSs) and low-income groups (LIGs) of society, promoting not only financial inclusion but also sustainable development through green building practices aligned with India’s climate objectives.

This investment aligns with India’s Nationally Determined Contributions under the Paris Agreement and supports significant government initiatives like the Pradhan Mantri Awas Yojana – Urban 2.0. The primary goal of this program is to address the urban housing shortages that are prevalent in the country. Additionally, it is in harmony with AIIB’s Sustainable Cities Strategy, emphasizing both social value and environmental sustainability.

Industry Overview in India

In India, the landscape of affordable housing is marked by profound challenges, particularly for households within the EWS and LIG categories, who often face barriers when attempting t