HDFC Gets $400 Million Loan For Financing Green Housing Units
NDTV
The companies said in separate statements today said this loan will help close the urban housing gap and improve access to climate-smart affordable homes by boosting green housing.
The International Finance Corporation (IFC) has extended a $400 million loan to mortgage major HDFC for financing green affordable housing units, as part of their efforts towards supporting climate goals.
The companies in separate statements today said this loan will help close the urban housing gap and improve access to climate-smart affordable homes by boosting green housing, which will go some ways in supporting the country's shift towards a more sustainable growth path, creating jobs and ensuring long-term business growth.
HDFC said it has earmarked 75 per cent or $300 million of the IFC funding for financing green affordable housing units.
It is estimated that 275 million people in the country or 22 per cent of the over 1.4 billion population do not have access to adequate housing, and rural housing shortage is twice that of urban areas. As of 2018, the urban housing shortage was 29 million units, increasing by over 54 per cent since 2012.
