IFC injects ₹3,300-cr booster into affordable housing

"Given our long-standing partnership, we welcome IFC's expertise to help strengthen our green affordable housing lending portfolio," said Renu Sud Karnad, MD of HDFC. "We are keen to increase our footprint in funding affordable and green housing and are committed to supporting India's efforts for a sustainable and green low-carbon economy."
According to Hector Gomez Ang, Regional Director for South Asia at IFC, it is essential that new buildings and houses in India are designed to be green and energy efficient to ensure sustainable development. Residential housing accounts for around 24% of India's electricity consumption, and a green affordable housing sector is key to reducing the country's greenhouse gas emissions through lower household energy consumption and greener construction activities, among other measures.