Question
Download Solution PDFWhich of the following banks has offered $68 million in funding to IIFL Home Finance for expanding footprint in the affordable and green housing segment in February 2022?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Asian Development Bank.
Key Points
- The Asian Development Bank has offered $68 million in funding to IIFL Home Finance for expanding its footprint in the affordable and green housing segment.
- The funding comprises a direct ADB loan of $58 million and another $10 million concessional loan from the Canadian Climate Fund.
- This is IIFL Home Finance’s first loan from ADB or any other development finance institution.
Additional Information
- The Asian Development Bank (ADB) provided a record USD 4.6 billion loans to India in 2021, including USD 1.8 billion towards coronavirus response.
- USD 1.5 billion was towards vaccine procurement and USD 300 million to strengthen primary health care in urban areas and the country's future pandemic preparedness.
- The agency extended a USD 2.2-billion support for 12 state projects.
- The Asian Development Bank is a regional development bank established on 19 December 1966.
- The Asian Development Bank:
- Headquarters: Mandaluyong, Philippines
- President: Masatsugu Asakawa (As of Feb 2022)
- Membership: 68 countries
- Founded: 19 December 1966
Last updated on Jun 27, 2025
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