The Asian Development Bank (ADB) and IIFL Home Finance Limited (IIFL) have signed an agreement for a $1 million technical assistance (TA) that will help promote green and affordable housing solutions in India.
Through the TA, ADB and IIFL will raise awareness on climate risk mitigation and adaptation and green-certified housing standards among developers and other stakeholders in the affordable housing market. The TA will be supported by an additional $150,000 from IIFL.
“Building climate-resilient and sustainable communities begins with each green home, particularly for lower income groups that are highly vulnerable to climate change impacts. IIFL is our partner in broadening the scope of green affordable housing in India,” said ADB Senior Investment Specialist for South Asia Susan Olsen. “The program will enable more real estate developers and housing finance companies to integrate green lending and climate adaptation strategies into their scaling up of affordable housing solutions in India.”