IIFL Home Finance Secures $300 Million to Bolster Affordable Housing for Women

IIFL Home Finance announced on Friday that it has entered into a $300 million loan agreement with the Asian Development Bank (ADB) to boost accessible housing finance for low-income borrowers, notably women. This agreement represents IIFL Home Finance's inaugural syndicated external commercial borrowing, the mortgage lender said.

The financing package, with ADB as the mandated lead arranger and bookrunner, includes $150 million from ADB and $150 million in parallel loans from MUFG, Emirates Bank, Sampath Bank, and Hatton National Bank. IIFL Home Finance plans to use the funds to provide mortgages to women in low-income communities across India, with over 25% earmarked for green-certified homes.

The funding will extend affordable housing options into deeper markets and support aspiring homeowners in economically weaker families, emphasizing sustainable and climate-resilient construction practices. India's housing shortage is estimated at 31 million units by 2030, primarily affecting low-income groups, the report noted.