IIFL Home Finance secures $100 million from AIIB to support affordable, green housing

Housing finance player IIFL Home Finance announced on Saturday that it has secured $100 million from the Beijing-based Asian Infrastructure Investment Bank (AIIB). The funds will be used to support affordable housing for economically weaker sections (EWS) and low-income groups (LIG) across India. Under this partnership, IIFL Home Finance will also take steps to promote green building practices. In a press release, the lender said: “With this facility, IIFL HFL will strengthen its ability to serve both the demand and supply sides of India’s affordable housing ecosystem.” IIFL Home Finance noted that the funds will be used to offer home loans to EWS and LIG families for buying or building homes in urban and semi-urban areas. It will also finance affordable housing developers, focusing on projects with green certifications to promote sustainability in the infrastructure sector.