Early Warning System

Regions

South Asia

Geographic location where the impacts of the investment may be experienced.

Countries

India

Geographic location 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

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Sep 25, 2025

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

IIFL Home Finance Limited

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Construction
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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 150.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 150.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

IIFL Home Finance Sustainability Loan to Enable Access to Affordable Housing for Women and Green Cer

Primary Source

Original disclosure @ ADB website

Updated in EWS Jan 31, 2026

Disclosed by Bank Sep 25, 2025

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project will increase access to housing finance for low-income customer segments in lagging states, provide green affordable housing, and support women's access to finance. ADB will also provide technical assistance (TA) to further support activities that contribute to an increase in the supply of green-certified affordable housing, which is still nascent in India.

The Asian Development Bank (ADB) will support IIFL HFL with a sustainability loan of up to $150 million or its equivalent in Indian rupees for a tenor of up to 8 years. ADB will also act as the mandated lead arranger and mobilize up to $150 million in additional parallel loans from development finance institutions and commercial banks. The ADB loan will be the first financing aligned with IIFL HFL’s Sustainability Finance Framework (SFF). The use of proceeds for the ADB loan includes (i) up to $110 million for mortgage loans to women homeowners in two categories—economically weaker section (EWS) and low-income group (LIG)—of which half ($55 million) is allocated to women homeowners in lagging states; and (ii) up to $40 million for new green-certified affordable housing construction or for green-certified affordable housing loans. The project also includes technical assistance (TA) of up to $300,000 to enhance IIFL HFL’s capacity for scaling green-certified affordable housing.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environment: FI
Involuntary Resettlement: FI-C
Indigenous Peoples: FI-C

- IIFL/HFL's existing and proposed lending portfolios have minimal site-specific environmental impacts.
- IIFL HFL's current lending operations are unlikely to entail impacts on involuntary resettlement.
- IIFL HFL's current lending operations are unlikely to entail impacts on Indigenous peoples.

IIFL/HFL will exclude lending to projects classified as category A for environmental impacts, A or B for involuntary resettlement and A or B for Indigenous Peoples.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

Asian Development Bank (ADB)

The financing amount is $150,000,000 (or equivalent in local currency), which will be financed on a loan basis by ADB’s ordinary capital resources.

Financial Intermediary

A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

IIFL Home Finance Limited (Financial Intermediary)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

IIFL HFL is a housing finance company (HFC) licensed by the Reserve Bank of India (RBI). The company was incorporated in 2006 and operates in 20 states through 387 branches.

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

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.