The International Finance Corporation (IFC), the World Bank’s investment arm, has proposed a $400 million (approximately Rs 3,400 crore) loan to mortgage lender HDFC in order to drive India’s green housing growth.

The funds will be used to expand HDFC’s green affordable housing portfolio, with 75 per cent (roughly $300 million) of the proceeds earmarked for this purpose, the company said in a statement.

Furthermore, the lending framework will establish stringent green building standards, allowing HDFC to build a quality green housing pipeline while channelling funds to this segment. Furthermore, the IFC’s financing package will allow the company to lend to borrowers, ensuring they can afford such housing, according to the statement.

The World Bank’s investment arm, the International Finance Corporation (IFC), has proposed a $400 million (approximately Rs 3,400 crore) loan to mortgage lender HDFC to help drive India’s green housing growth.

According to the company, the funds will be used to expand HDFC’s green affordable housing portfolio, with 75 per cent (roughly $300 million) of the proceeds earmarked for this purpose.

Furthermore, the lending framework will impose strict green building standards, allowing HDFC to build a quality green housing pipeline while channelling funds to this segment. According to the statement, the IFC’s financing package will also allow the company to lend to borrowers, ensuring they can afford such housing.

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