A Manila-based multilateral funding agency has committed USD 70 million (approximately ?595 crore) to an Indian housing finance company to support affordable home loans. The funding aims to enhance access to sustainable housing finance for underserved borrowers, with 15% of the funds specifically earmarked for first-time borrowers.
The initiative seeks to bridge the credit gap for economically weaker sections and low-income groups, with a focus on promoting homeownership in Tier II to IV towns across India.
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