The Asian Development Bank (ADB) and Aadhar Housing Finance Limited (AHFL) have signed a $60 million financing agreement to provide housing loans exclusively to women borrowers in India's low-income and affordable housing sectors. The initiative aims to address the shortage of housing financing for low-income households and promote gender equality in housing ownership. So far $30 million of the total has been disbursed.
The loans will offer women-centric products, lower interest rates, flexible repayment options, and reduced documentation requirements. The partnership will also contribute to women's empowerment, promoting gender equality and a safer environment for families and communities. The initiative aims to improve women's access to housing loans, promoting homeownership and financial security. It will facilitate easier loan approvals and better terms, empowering women and promoting gender equality by encouraging them to invest in real estate.
AHFL is a low-income housing company in India that will expand its lending capacity to women and co-borrowers after receiving funding from ADB. It will provide half of the funding to states like Bihar, Jharkhand, Chhattisgarh, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh, and West Bengal. India faces a housing deficit, with 26.3 million urban homes and nearly double in rural regions. AHFL is targeting low-income borrowers, offering loans ranging from Rs. 900,000 with 471 branches across 20 Indian states and Union territories.
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