ADB Allocates $108M to Aavas Financiers for Housing Loans
NEW DELHI: The Asian Development Bank (ADB) announced on Tuesday that it has finalized a senior secured debt financing package worth up to USD 108 million (approximately Rs 983 crore) with NBFC Aavas Financiers. This funding aims to enhance access to affordable housing loans for lower-income families and business loans for MSMEs in underrepresented regions across India. The package comprises concessional debt financing of USD 8 million (in INR equivalent) sourced from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA), as detailed in an ADB statement. This financing will facilitate loans for self-built and green-certified…