Announcement
On 26 September 2026, in New Delhi, IIFL Home Finance Limited (IIFL HFL), a leading housing‑finance company serving underserved and low‑income segments, signed a loan agreement with the Japan International Cooperation Agency (JICA) for US$150 million. The financing is intended to expand affordable housing finance for low‑income women belonging to the Economically Weaker Sections (EWS) and Low‑Income Groups (LIG) across urban and peri‑urban areas of India.
Financing Structure
The JICA loan will be on‑lent by IIFL HFL to eligible women borrowers. The arrangement is part of a broader co‑financing structure that includes the Asian Development Bank (ADB) and private financial institutions, notably MUFG Bank, Ltd. The combined resources will be used to fund home‑acquisition loans for the target segment.
Project Objectives & Impact
India is confronting an urban housing shortage of more than 10 million units, and housing demand is projected to rise by an additional 22 million units by 2030. Currently, women account for only about 30 % of housing‑finance users. By directing the JICA‑funded loan to women borrowers in the EWS and LIG categories, the project aims to improve household financial security, raise living standards, and promote greater economic participation among women. The initiative aligns with the Government of India’s “Housing for All” programme, which seeks to increase homeownership among low‑income urban households.
Capacity Building
In addition to the loan, JICA, together with the Japan Housing Finance Agency (JHF) and other partners, will provide training to Indian housing‑finance regulators and IIFL HFL staff. The training will cover Japanese housing policies, decarbonised building practices, and affordable‑housing delivery, thereby strengthening institutional capacity and encouraging the adoption of sustainable, climate‑resilient practices in India’s affordable‑housing sector.
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Mr. Girish Kousgi, Managing Director and Chief Executive Officer of IIFL Home Finance, said, “We are delighted to partner with JICA on this important initiative to deepen access to affordable housing finance for low‑income women in India. Homeownership can play a critical role in strengthening financial security, improving living standards and enabling greater economic independence for women. JICA’s long‑term financing and expertise will further strengthen our ability to reach underserved households and support their aspirations of owning a home.”