SBI-KfW inks JV for affordable housing

    SBI KFW Joint Venture Affordable Housing
    The country's largest lender, State Bank of India, has recently signed an agreement with German Development Bank KfW for a $274 million (Rs 1,800cr) loan facility to finance low cost housing units across the country. With its focus on housing loans for economically weaker sections (EWS) and lower income group (LIG) households, the facility is designed to complement the government's flagship Affordable Housing Program including those under the Pradhan Mantri Awas Yojana, said official sources. They said adding that the promotional loan has a maturity of 15 years as the SBI has already committed to support the government's mission of housing for all and this facility will be additional impetus to support this mission, Deputy Managing Director, SBI, Siddhartha Sengupta said, elaborating that the lower income household categories account for 95% of the estimated shortage of 20 million housing units in the country. Similarly, German KfW Development Bank executive board member, Norbert Kloppenburg, claimed that sustainable mortgage loans to low income families to purchase, build or upgrade their homes are critical for inclusive growth and development.
    CURRENTLY ONLINE
    We have 418 guests and no members online

    NBM&CW

    New Building Material & Construction World

    New Building Material & Construction World
    MGS Architecture

    Modern Green Structures & Architecture

    Modern Green Structures & Architecture
    L&ST

    Lifting & Specialized Transport

    Lifting & Specialized Transport
    II&TW

    Indian Infrastructure & Tenders Week

    Indian Infrastructure & Tenders Week