IFC grants $ 400 Million to HDFC to support green affordable Housing Finance

Published on December 26, 2022
Current Context: A loan of USD 400 million was given to Housing Development Finance Corporation (HDFC) Limited by the International Finance Corporation (IFC), a member of the World Bank Group, to support green affordable housing finance in India. This will help India transition to a more sustainable growth path, generating jobs and ensuring long-term business growth.
IFC grants $ 400 Million to HDFC to support green affordable Housing Finance
  • The main innovation of Green Affordable Housing Finance is its ability to encourage regional lenders to finance both the building of affordable green homes and the acquisition of those properties by people with low and unofficial incomes.
  • It will help in reducing the urban housing gap and provide affordable climate-friendly housing.
  • The lending framework would establish strict criteria for green projects, enabling HDFC to increase the supply of high-quality green homes while allocating funding to this market.
  • About International Finance Corporation (IFC):
    • Managing Director (MD) – Makhtar Diop
    • Headquarters – Washington D.C, New York (NY)
    • Establishment – 1944
    • Parent Organisation – World Bank

Question: 

Q.1 IDFC granted ­­­­______ to HDFC to support green affordable housing finance?
a. 350 million
b. 400 million
c. 100 million
d. 500 million

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