World Bank grants $100m concessional loan to NHB
NHB received a 25-year concessional loan for $100 million from the World Banks International Development Assistance (IDA) window for the implementation of low-income housing schemes. The cost of borrowing under this World Bank window will be much lower than the average cost of funds for NHB.
The drawdown will start soon and the funds will be utilised as refinance to housing finance companies and banks for supporting their low-income housing products.
NHB has been receiving credit from multilateral bodies and international institutions such as the Asian Development Bank and KfW for the development of housing finance market in the country.