New Delhi, 26th September 2026: IIFL Home Finance Limited (IIFL HFL), a leading housing finance company focused on underserved and low-income segments in India, has signed a US$150 million loan agreement with the Japan International Cooperation Agency (JICA) to strengthen access to affordable housing finance for low-income women across India.
The financing will support IIFL HFL’s efforts to expand homeownership opportunities for women belonging to the Economically Weaker Sections (EWS) and Low-Income Groups (LIG), with the objective of improving living standards, promoting women’s economic empowerment, and advancing financial inclusion.
The project will be implemented as part of a co-financing arrangement with the Asian Development Bank (ADB) and private financial institutions, including MUFG Bank, Ltd. The proceeds from the JICA will be on-lent through IIFL HFL to finance home acquisition for low-income women in urban and peri-urban areas across India.
Commenting on the signing, Mr. Girish Kousgi, MD and CEO, IIFL Home Finance, said, “We are delighted to partner with JICA on this important initiative to deepen access to affordable housing finance for low-income women in India. Homeownership can play a critical role in strengthening financial security, improving living standards and enabling greater economic independence for women. JICA’s long-term financing and expertise will further strengthen our ability to reach underserved households and support their aspirations of owning a home.”
India is experiencing rapid urbanization, resulting in a significant increase in demand for housing. The country faces an urban housing shortage of more than 10 million housing units, with housing demand projected to increase by an additional 22 million units by 2030. As of now, women account for only around 30% of housing finance users in India. Expanding access to housing finance for women, particularly those belonging to EWS and LIG households, can contribute to improved household financial security, enhanced living conditions and greater economic participation.
The project aligns with the Government of India’s “Housing for All” initiative and its focus on improving access to housing for low-income urban households. By providing long-term financing to IIFL HFL, the project will support the expansion of affordable housing finance to women borrowers and contribute to more inclusive growth.
In addition to financing, JICA, in collaboration with the Japan Housing Finance Agency (JHF) and other partners, plans to provide training to relevant Indian housing finance regulators and IIFL HFL employees on Japanese housing policies and practices. The training will cover areas including decarbonized building practices and affordable housing.
The knowledge-sharing component is expected to strengthen institutional capacity and support the development of India’s housing finance market by leveraging Japanese expertise and experience in housing finance and housing policy. It will also encourage the adoption of sustainable and climate-resilient practices in the affordable housing sector.
