Housing For All Project (NDB-housingforallproject-)

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
  • New Development Bank (NDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Feb 25, 2021
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
Ministry of Housing and Urban Affairs (MoHUA), Government of India
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1,500.00 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)
$ 1,500.00 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
Primary Source

Original disclosure @ NDB website

Updated in EWS May 24, 2021

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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 aims to address the twin issues of availability and affordability of housing in urban areas by providing government assistance for provisioning of all-weather houses with access to toilet, water supply, electricity, cooking gas, and other civic amenities to eligible beneficiary families in urban areas. The project seeks to improve living conditions and quality of life of the urban poor by providing housing with access to civic amenities. The activities to be financed by the project are:

(i) Beneficiary-led Individual House Construction or Enhancement (BLC): Direct central assistance of INR 1,50,000 is provided to families belonging to economically weaker section (EWS) households (having annual income of up to INR 300,000) to either construct a new house or enhance the existing house on their own.
(ii) Credit-Linked Subsidy Scheme (CLSS): Interest subsidy is provided to EWS, low-income group and middle-income group households on loans availed for construction of new homes or renovation of existing homes.

The bank states that the loan provided will support the Government of India’s Pradhan Mantri Awas Yojana (Urban) (PMAY-U) scheme. 

 

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

The proposed project will be a sovereign Sustainable Development Loan (SDL) of USD 1,500 million (Tranche 1 of USD 500 million) 


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 contact details provided by the bank

ACCESS TO INFORMATION

You can submit an information request for project information through a form at the bottom of the following webpage https://www.ndb.int/about-us/contact-us Alternatively, you can send an e-mail to info@ndb.int

ACCOUNTABILITY MECHANISM OF NEW DEVELOPMENT BANK

The New Development Bank (NDB) does not currently have an independent accountability mechanism to accept complaints related to NDB-financed projects. The Bank does have a whistleblower mechanism that receives complaints about misconduct related to corruption, fraudulent practices and instances of money laundering in projects financed by the NDB and/or against the NDB staff members. To learn more about the whistleblower mechanism and how to file a complaint, access this webpage at: https://www.ndb.int/about-us/whistleblowing

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How it works