Context:
The International Finance Corporation (IFC), a member of the World Bank Group, has committed USD 150 million to HDFC Capital Affordable Real Estate Fund – 3 (H-CARE 3). The investment aims to boost the supply of green-certified affordable housing in India and advance climate-friendly construction practices.
Key Highlights:
- Investment Details: IFC will act as an anchor investor with a USD 150 million commitment to H-CARE 3.
- Fund Objective: Promote affordable, green-certified housing projects in India, supporting low- and middle-income homebuyers.
- Environmental Impact: Encourages sustainable construction and resource efficiency, aligning with India’s climate goals.
- Economic Impact: Supports real estate developers with long-term funding for environmentally responsible affordable housing.
- Partnership: This is IFC’s third investment with HDFC Capital’s H-CARE platform, reinforcing a long-standing collaboration.
About IFC
- A member of the World Bank Group.
- Focuses on private sector development in emerging markets through investments, advisory, and asset management services.
About H-CARE
- Managed by HDFC Capital Advisors Ltd.
- Focuses on financing affordable and mid-income housing projects in India.
