- The IFC has offered a loan of $250 million (Rs 1875 crore) to HDFC Ltd.
- The loan was offered to promote affordable green housing finance for low and middle-income borrowers.
- The IFC supported HDFC Ltd in its green affordable housing portfolio which aims to improve accessibility to offer green housing to the low-income group of the country.
- Green housing is termed to be the luxury market but it has climate benefits.
- The green affordable housing portfolio of HDFC Ltd is in line with GOI’s ‘Housing for All’ goal.
- The funds from IFC will also help to create job opportunities and will help India to maintain its commitment under the Paris Agreement to reduce carbon emissions.
- Static Part:
- HQ of HDFC Ltd: Mumbai, Maharashtra
- MD and CEO of HDFC Ltd: Sashidhar Jagdishan
- Tagline of HDFC Ltd: We understand your world
- HQ of IFC: Washington, D.C., U.S
Question:
Q.1 Which entity offered a loan of $ 250 million to HDFC Bank to support its green affordable housing portfolio initiative upto the low-income group?
a. Organisation for Economic Co-operation and Development
b. International Finance Corporation (IFC)
c. European Investment Bank
d. Asian Development Bank
a. Organisation for Economic Co-operation and Development
b. International Finance Corporation (IFC)
c. European Investment Bank
d. Asian Development Bank
