Bridging the Ownership Gap: JICA Commits $150 Million to IIFL Home Finance to Power Women-Led Affordable Housing in India

The Bilateral Pact: Long-Tenure Liquidity for Grassroots Housing

In a substantial boost to India’s urban financial inclusion agenda, IIFL Home Finance Limited (IIFL HFL) has executed a definitive loan agreement securing US$ 150 million (approximately ₹1,260 crore) from the Japan International Cooperation Agency (JICA).

The transaction is structured as a co-financed debt facility arranged in concert with the Asian Development Bank (ADB) and private institutional lenders, including Japan's MUFG Bank, Ltd.

The capital injection is exclusively earmarked for on-lending to low-income home buyers, with mandatory covenants requiring that loans be disbursed to women borrowers belonging to Economically Weaker Section (EWS) and Low-Income Group (LIG) households across Tier-2, Tier-3, and peri-urban regions.

Empowering Female Homeownership: The Core Social Charter

Affordable housing finance has historically faced structural barriers in emerging markets, characterized by undocumented incomes, thin credit files, and informal collateral.

Speaking on the partnership, Girish Kousgi, Managing Director & CEO of IIFL Home Finance, underscored the catalytic role of women in family asset creation:

"Homeownership serves as an anchor for social mobility and financial security. When a home title is registered in a woman's name, it fundamentally shifts household financial dynamics and fosters true economic independence. This collaboration with JICA allows us to deepen our outreach to families who need structured, affordable home credit the most."

Transaction & Financing Architecture

DimensionTransaction Parameter

Borrower / Originator

IIFL Home Finance Limited (IIFL HFL)

Bilateral Lender

Japan International Cooperation Agency (JICA)