US International Development Finance Corp provides $50 m loan to IIFL Home Finance

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IIFL Home Finance Ltd (IIFLHFL), a digital first home finance company, has secured a$ 50 million loans from US International Development Finance Corporation (DFC). The proceeds of the loan will be used to finance affordable home loans with a special focus on sustainable casing. IIFLHFL caters to the different fiscal requirements of the economically weaker sections (EWS) and lower income groups (LIG) through its visage India distribution network across Tier 1, 2, 3 and 4 metropolises and municipalities. As of March 31, 2023, it has fulfilled the home power dream of nearly 1 lakh guests in the informal income member and has served over 213,700 first time homeowners. casing for All Also, IIFLHFL has eased subvention of over ₹ 1,750 crore to further than 73,000 first time homeowners, CLSS- PMAY(U) heirs, aligning with the Government of India’s charge of ‘Housing for All’. “We’re happy to admit this installation from DFC which shall further our charge of ‘Housing for All’,” said Monu Ratra, ED and CEO, IIFLHFL. James Polan, Vice President of DFC’s Office of Development Credit, said DFC is proud to work alongside innovative mates like IIFL Home Finance Ltd to support inclusive lending in India. “This sale will induce enormous benefits for the people of India by expanding access to casing finance and furnishing fiscal support for growing small businesses,” Polan said.

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