IIFL Home Finance Secures $300 Million Loan from ADB for Affordable Housing

IIFL Home Finance has secured a USD 300 million syndicated loan led by the Asian Development Bank (ADB) to support affordable housing finance for low-income borrowers, especially women, in India. The financing includes USD 150 million from ADB and USD 150 million from parallel lenders MUFG, Emirates Bank, Sampath Bank, and Hatton National Bank. The loan aims to provide mortgages in semi-urban and urban areas, with over 25% allocated for green-certified affordable homes, addressing India's estimated 31 million housing shortage by 2030.