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.
The proposed project will be a sovereign Sustainable Development Loan (SDL) of USD 1,500 million (Tranche 1 of USD 500 million)
No contact details provided by the bank
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