Asian Development Bank (ADB) and IIFL Home Finance Ltd. (IIFL HFL) initiate the policy dialogue around green affordable housing in India

Delhi, December 2, 2022: Asian Development Bank (ADB) and IIFL Home Finance Ltd. (IIFL HFL), India’s fastest growing digital first home finance company, organised ‘Kutumb’ event in Delhi discussing scope around green affordable housing in India. They launched ‘Kutumb’ on December 2, 2022, with an event titled ‘Green Affordable Housing Ecosystem’ in Delhi.

The event focused on insights based on promotion and propagation of Green Affordable Housing in India, the perspective opportunity of making green affordable housing accessible to all. This required capacity building to empower stakeholders involved at various levels supported by research and innovation to contribute to the dialogue.

In February 2022, IIFL HFL signed a USD 68 million loan with ADB to improve financial access of affordable green housing for economically weaker section and lower- income groups in India.

To accelerate initiatives that improve access to green affordable housing for meeting the targets of Sustainable Development Goals 2030, it is important to actively pursue issues related to climate resilience, sustainability-orientated thinking and the achievement of gender-balance as fundamental approaches to development. Additionally, there is a need to address market constraints around a lack of awareness around green home.

The event was graced by many dignitaries. At the event, Monu Ratra (ED and CEO, IIFL Home Finance Ltd) said, “TA programme in collaboration with ADB has shown great progress to gain insights on green affordable housing in India. We are putting together our observations and learnings from the various facets of the programme. The outcome from the activities within the TA are of great relevance, considering the pertinent need of affordable green housing in India. We partnered with ADB and CEPT for the TA programme and are thankful to them for making the entire process a great success.”

Kutumb endeavours to promote green, sustainable, future-ready and affordable housing by actively collaborating and consulting with developers, architects and rating agencies. The programme focuses on mainstreaming green and affordable housing in India.

Moreover, the policies need to focus on affordability of green housing and construction of green buildings. Kutumb focuses on bringing all the relevant influencers together to deliberate on addressing the existing gaps and finding ways for convergence between the various aspects and stakeholders of the green housing movement.