IIFL Home Finance Secures $100 Million Financing from AIIB to Boost Affordable Housing

IIFL Home Finance Limited (IIFL HFL), a leading housing finance company with a focus on the affordable housing segment, has secured a $100 million (in equivalent Indian rupee) financing from the Asian Infrastructure Investment Bank (AIIB), as announced in a recent statement.

IIFL Home Finance stated that the AIIB funding will significantly enhance access to affordable housing finance for economically weaker sections and lower income groups (EWS/LIG), while also promoting the adoption of green building standards across the housing sector.

With this finance facility, IIFL HFL will strengthen its ability to serve both the demand and supply sides of India's affordable housing ecosystem. On the demand side, IIFL HFL will extend home loans to families, primarily from EWS and LIG segments, to purchase or construct their own homes in urban and semi-urban locations.

On the supply side, the company will finance affordable housing developers, with a focused thrust on projects that integrate green certification standards. This will help reduce the environmental footprint and enhance sustainability in the housing sector.

Monu Ratra, ED and CEO of IIFL Home Finance, expressed his enthusiasm: “The funding from AIIB marks a significant step in our journey to expand homeownership opportunities for underserved families across the country. This will also bolster our efforts to develop and finance green affordable housing, making sustainable living more accessible. We are honored to collaborate with AIIB in delivering inclusive and environmentally conscious housing solutions.”

Gregory Liu, Director General of AIIB's Financial Institutions and Funds Clients Department, Global, added: “This investment reflects AIIB's commitment to inclusive and sustainable infrastructure. By partnering with IIFL HFL, AIIB is helping to advance India's green building agenda while bridging the housing gap for low-income families in India.”

AIIB began operations in 2016 and now has 110 approved members worldwide. It is capitalized at $100 billion and is AAA-rated by major international credit rating agencies. This collaboration between IIFL HFL and AIIB is expected to have a significant impact on the affordable housing market in India, promoting both economic and environmental sustainability.