Shriram Housing Finance partners with IFC to promote green affordable housing finance in India
Shriram Housing Finance Limited (SHFL) and International Finance Corporation (IFC), a member of the World Bank, have entered into a partnership to launch an affordable green housing lending product for self-constructed homes.
The project will deploy IFC’s excellence in design for greater efficiency (EDGE) certification tool for the affordable self-construction segment customers and impact monitoring tool (CAFI) for reporting of green affordable housing.
IFC will provide training and capacity building for SHFL teams on the principles and applications of the EDGE software, standards, and certification system. The training will support SHFL in promoting construction of green self-built houses among its potential customers and assessing green components in constructed units for green certification.
Ravi Subramanian, Managing Director & CEO, SHFL said, “Who better than to partner with for our affordable green homes financing initiative than IFC.
At Shriram Housing Finance, we are committed to the construction of affordable green homes. We believe that with the rising cost of living, energy-efficient homes are the way forward.
Through the partnership with IFC, we intend to build the foundation for an eventual self-sustaining housing finance ecosystem for climate-smart, affordable homes.”
SHFL says it is committed to the sustainable housing initiative, and the EDGE certification will help the company identify homes that focus on reducing their environmental footprint with at least 20% savings in energy, water and embodied energy materials. With support from IFC, SHFL will be able to guide homeowners in the affordable housing sector to construct their properties in a manner that is environmentally friendly.
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