Low-Cost Affordable Housing Finance (ADB-49212-001)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 15, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PNB HOUSING FINANCE LIMITED; PNB Housing Finance Limited
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 8, 2017

Disclosed by Bank Apr 5, 2016


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Project Description
DESCRIPTION There is an acute shortage of housing in India, particularly in urban areas where demographic trends are pressuring current housing stocks. Banks and housing finance companies (HFCs) need longer tenor funding to provide access to affordable housing finance. To partially address this challenge, PSFI proposes a 7-year senior loan of up to $200 million or IDR equivalent to PNB Housing Finance Limited (PNBHF), an HFC, to fund affordable housing in India. The proceeds of the proposed loan will be used to support PNBHF's affordable housing lending activities. Geographic targets in underserved areas may be included in the project scope
Investment Description
  • Asian Development Bank (ADB)
Contact Information
ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main CONTACTS Responsible ADB Department Private Sector Operations Department Responsible ADB Division Private Sector Financial Institutions Division Responsible ADB Officer Doukidis, Doukas