IIFL Home Finance Limited (IIFL HFL) has signed a US$150 million loan agreement with the Japan International Cooperation Agency (JICA). The funding aims to expand affordable housing credit for low-income women across India.
The initiative targets borrowers from Economically Weaker Sections (EWS) and Low-Income Groups (LIG). The company will deploy the capital to boost financial inclusion and promote women’s economic independence.
Co-Financing Structure and Capital Deployment
The capital injection forms part of a larger syndication framework alongside global institutions.
| Parameter | Details |
| Loan Value | US$150 Million |
| Lender | Japan International Cooperation Agency (JICA) |
| Borrower | IIFL Home Finance Limited (IIFL HFL) |
| Co-Financiers | Asian Development Bank (ADB), MUFG Bank, Ltd. |
| Target Segment | EWS and LIG female borrowers |
| Coverage Area | Urban and peri-urban regions across India |
IIFL HFL will on-lend the funds directly to women seeking home acquisition.
“Homeownership can play a critical role in strengthening financial security, improving living standards and enabling greater economic independence for women,” said Girish Kousgi, MD and CEO of IIFL Home Finance. “JICA’s long-term financing and expertise will further strengthen our ability to reach underserved households and support their aspirations of owning a home.”
Bridging the Urban Housing Gap
Rapid urbanization continues to stress India’s real estate infrastructure. The country currently faces an urban shortage of over 10 million housing units. Analysts project housing demand to grow by another 22 million units by 2030.
Currently, women make up only about 30% of housing loan borrowers in India. This credit line supports the Government of India’s “Housing for All” mission. It unlocks formal credit lines for underserved demographics across key growth corridors.
Knowledge Transfer and Green Building
The partnership extends beyond capital lending into institutional development. JICA will team up with the Japan Housing Finance Agency (JHF) and industry partners to offer technical training.
The programs will train IIFL HFL personnel and Indian housing finance regulators in Japanese housing frameworks. Crucially, the coursework focuses on decarbonized construction methods and climate-resilient practices for the affordable housing sector.
