IIFL Home Finance has secured $100 million (approximately Rs 858 crore) financing from the Asian Infrastructure Investment Bank (AIIB) to boost affordable housing finance for economically weaker sections and lower income groups. The partnership will support both demand and supply sides of housing finance.
The company will extend home loans to EWS/LIG families for purchasing or constructing homes in urban and semi-urban areas, while also financing affordable housing developers with emphasis on green certification standards. This collaboration aligns with India's climate goals and the ongoing Pradhan Mantri Awas Yojana Urban (PMAY-U 2.0) implementation.
Operating through 376 branches across 18 states, IIFL HFL focuses on underserved geographies, including suburbs of Tier 1 cities and Tier 2-4 towns.
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