IIFL Home Finance Gets $300M ADB Loan For Affordable Housing For Women

(MENAFN- AsiaNet News)

IIFL Home Finance Limited secured a USD 300 million loan agreement with the Asian Development Bank to expand access to affordable housing finance for lower-income borrowers, specifically targeting women in India. The financing package represents the company's first syndicated external commercial borrowing and aims to address the significant housing deficit in the country.

Financing Package Details

According to a press release, the Asian Development Bank acted as the mandated lead arranger and bookrunner for the package. The total amount consists of USD 150 million directly from the Asian Development Bank and an additional USD 150 million in parallel loans from MUFG, Emirates Bank, Sampath Bank, and Hatton National Bank.

Addressing India's Housing Deficit

IIFL Home Finance plans to utilise these proceeds to provide mortgages to women in low-income communities across urban and peri-urban areas, as well as in lagging states. India currently faces a housing shortage estimated at 31 million units by 2030, a crisis that primarily impacts low-income groups who often lack the formal documentation required to secure traditional mortgages.

Focus on Women and Green Housing

According to the release, IIFL Home Finance also designated more than 25 per cent of the loan proceeds for green-certified affordable homes to promote sustainable construction. "India's affordable housing deficit is most pronounced among economically weaker and low-income households, particularly women, who constitute only 13 per cent of homeowners. Addressing this gap necessitates the adoption of sustainable and climate-resilient construction practices," said ADB Country Director for India, Mio Oka. She added that the bank is pleased to support the expansion of access for low-income women homeowners while advancing green-certified housing.

Company's Profile and Focus

The company operates as a tech-enabled housing finance entity with approximately 400 billion rupees in assets under management. As of December 31, 2025, the firm maintained 315 branches across 18 states and two union territories, focusing on the economically weaker sections of the population.

Strengthening Partnerships for Deeper Market Reach

Managing Director and CEO of IIFL Home Finance, Girish Kousgi, said, "ADB's funding will help extend affordable housing to deeper markets and support the homeownership aspirations of low-income and economically weaker families, especially women. We are glad to partner once again with ADB, who have constantly supported our growth and refinancing journey, and welcome the addition of new international partner banks to our lender relationships." (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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