Affordable housing finance: IIFL gets $100 million from AIIB; green homes, PMAY goals in focus – OXBIG NEWS NETWORK-OxBig News Network

IIFL Home Finance has secured $100 million (approximately Rs 858 crore) in financing from the Asian Infrastructure Investment Bank (AIIB) to expand access to affordable housing loans and promote green building standards, the company said in a release on Saturday.The funds will be used to support home loans for families from economically weaker sections (EWS) and lower income groups (LIG), primarily in urban and semi-urban areas, PTI reported. In parallel, the company will also finance developers of affordable housing projects that incorporate green certification, aiming to lower environmental impact and boost sustainability.“This collaboration reinforces the company’s mission to provide accessible, responsible, and climate-conscious housing finance,” IIFL Home Finance Ltd (IIFL HFL) said in a statement.The funding will further bolster IIFL HFL’s green housing portfolio and support India’s broader climate commitments. Monu Ratra, ED and CEO, IIFL HFL, said the investment “marks a significant step in our journey to expand homeownership opportunities for underserved families across the country.”Gregory Liu, Director General of AIIB’s Financial Institutions and Funds Clients Department, said the partnership aligns with India’s green building agenda and aims to bridge the housing gap for low-income families. “By partnering with IIFL HFL, AIIB is helping advance India’s green building agenda,” Liu said.The investment aligns with the rollout of Pradhan Mantri Awas Yojana Urban (PMAY-U 2.0), the government’s flagship housing programme to address urban housing shortages.IIFL HFL operates across 18 states with a network of 376 branches, focusing on under-served and emerging geographies — including Tier 2 to Tier 4 towns and suburbs of Tier 1 cities.