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NHB, AFD and EU expand competitive funding to green housing
ETRealty  |  February 25, 2020

New Delhi

National Housing Bank (NHB), the French Development Agency (AFD) and the European Union (EU) on Monday reiterated their common commitment to allocation of resources for promotion of green and affordable housing projects through the 'SUNREF India Housing Programme'.


The programme, backed by a credit line of EUR100 million from AFD, allows banks, housing finance companies and homebuyers to fund green and affordable housing projects and investments therein.


"The SUNREF India program carries a subsidy of EUR 12 million granted by the EU (Asia Investment Facility, or AIF) - including a technical assistance grant of EUR 3 million for promotion of the programme in India. Further, up to EUR 1 million is available to support the cost of green label certifications incurred by the project developer," said Kulasekhara Chakravarthy, general manager, NHB.


"By 2025, SUNREF India Housing Programme would have benefited 12,000 households, of which at least half would be from economically weaker sections and Maharashtra," said Augustin DELISLE, investment officer (Energy and Financial Sector), French Development Agency (AFD).