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IIFL Home Finance Signed Loan Agreement with ADB

Published on February 23, 2022
Current Context: The IIFL HFL has signed a loan agreement with Asian Development Bank (ADB).
IIFL Home Finance Signed Loan Agreement with ADB
  • They have signed a loan agreement of USD 68 million.
  • It was signed to improve funding to affordable green housing for lower-income groups in India.
  • They will support financially affordable green housing.
  • The ADB will grant USD 58 million direct loans and USD 10 million concessional loans will be granted by Canadian Climate Fund for the Private Sector in Asia.
  • 80% of the loan will be granted to women borrowers and the rest will be used to finance mortgages for green-certified loans for low-income houses.
  • Static Part: 
    • HQ of ADB: Manilla, Philippines
    • President of ADB: Masatsugu Asakawa

Question: 

Q.1 With which financial entity has IIFL HFL signed a loan agreement of USD 68 million to fund affordable green housing for lower-income groups in India?
a. Asian Infrastructure Investment Bank
b. New Development Bank
c. Asian Development Bank
d. World Bank
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