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IFC to invest $38 million in 3 housing finance companies

International Finance Corporation (IFC)

7165   Planning

Project Information

Organization Name
International Finance Corporation (IFC)
Project Title
IFC to invest $38 million in 3 housing finance companies
Project Detail
International Finance Corporation (IFC) plans to invest $38 million in housing finance companies (HFCs), which are focused on affordable housing finance segment. The World Bank's investment arm said the proposed investment involve an investment of up to $38 million in non-convertible debentures (NCDs) issued by Aspire Home Finance Corporation Limited (Aspire) Micro Housing Finance Corporation Limited (MHFC), and Aptus Value Housing Finance India Ltd. (Aptus). The project is intended to support the HFCs in increasing its reach in the affordable housing finance segment. The investment would provide financing to affordable housing finance companies operating in India with focus on small and micro loans The proposed investment is consistent with the World Bank Group's India Country Partnership Strategy (CPS) as it aligns with the engagement areas of (i) Inclusion - by improving access to affordable housing finance and enhancing investment in the low income states (ii) Transformation - through job creation by supporting the labor intensive affordable housing segment and (iii) Integration - giving increased access to financial services in Tier II and Tier III cities.
Project Status
Planning
Location
Multi Location
Project State
Multi State
Country
India
Sector
Infrastructure

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