Aditya Birla Housing Finance Limited (ABHFL) has secured Rs 830 crore from the International Finance Corporation (IFC) to promote affordable housing and empower women borrowers in India. The funding will focus on low and middle-income groups and support women-led MSMEs.
ABHFL, a subsidiary of Aditya Birla Capital, stated that the funding was secured through Non-Convertible Debentures (NCDs) from the IFC. This investment aims to address critical gaps in the housing sector by providing loans to low-income and middle-income groups, focusing on encouraging homeownership among women. A portion of the funds will also support MSMEs, particularly women-led enterprises, to drive economic growth and empowerment.Â
“This collaboration with IFC marks a key milestone in advancing financial inclusion and equitable growth…This initiative empowers underserved communities, particularly women borrowers, while supporting MSMEs to foster entrepreneurial growth and economic empowerment,” said Pankaj Gadgil, MD and CEO of ABHFL.
The funding aligns with IFC’s mission to enhance financial access in emerging markets. “A dynamic housing sector and improved financial access for MSMEs are essential for India’s sustainable development,” stated Wendy Werner, Country Head, India and Maldives, IFC.
ABHFL, registered with the National Housing Board as a non-deposit accepting finance company, has its footprint in 150 branches. The company manages assets under management (AUM) of over Rs 23,236 crore and holds a long-term credit rating of AAA (Stable) by CRISIL, ICRA, and India Ratings. ABHFL, part of the $66 billion Aditya Birla Group has operations in over 40 countries.Â