World Bank to fund 100 Million USD for low income housing loans

The World Bank has signed an agreement with the Indian government to provide a USD 100 million loan to help low-income families secure housing loans.

The objective of the project is to provide access to sustainable housing finance for low-income households to purchase, build or upgrade their dwellings, it added.

Financing under the project aims to create incentives for lenders to focus on lower-income households through a net all-in reduction of the lenders' cost of funds of about 200-300 basis points.

Source: ET