Business · India Bureau
IIFL Home Finance secures $150 million JICA loan for affordable housing
The Japanese development finance institution's funding will enable IIFL Home Finance to expand mortgage lending to economically disadvantaged groups, particularly women, across India's urban and semi-urban markets.
LSN India ·
IIFL Home Finance has secured a $150 million loan from the Japan International Cooperation Agency (JICA) to expand its affordable housing finance operations across India. The concessional financing facility will enable the non-bank finance company to increase home loan disbursements targeting low-income households and economically weaker sections in urban and peri-urban areas.
The funding mechanism prioritises lending to women borrowers from economically disadvantaged backgrounds, reflecting broader development objectives to improve housing security and financial inclusion among vulnerable populations. JICA's support underscores Japan's commitment to supporting India's housing sector and addressing the significant affordability challenges faced by lower-income households seeking homeownership.
IIFL Home Finance operates as a significant player in India's affordable housing finance segment, serving customers across multiple states. The fresh capital injection is expected to accelerate the company's lending portfolio expansion and support its mission to make homeownership accessible to underserved market segments.
The loan facility comes amid sustained policy focus on affordable housing in India, including government initiatives aimed at expanding home ownership opportunities for economically weaker sections. Development finance institutions like JICA have increasingly channelled resources toward India's housing deficit, recognising the critical role of affordable housing in broader economic and social development objectives.