The Asian Development Bank and Aadhar Housing Finance Limited have partnered to create a USD 60 million program offering affordable housing loans exclusively for women in India. This initiative targets low-income families in eight underserved states and aims to empower women through homeownership and financial inclusion.
In a significant move to empower women and narrow the gender gap in property ownership, the Asian Development Bank (ADB) and Aadhar Housing Finance Limited (AHFL) have joined forces to provide USD 60 million for affordable housing loans specifically targeted towards women in India. This initiative directly addresses the challenge of limited access to financing faced by many low-income families, particularly those where women play a primary role in household finances.
The partnership will see an initial disbursement of USD 30 million to AHFL, a housing finance company with a strong presence in low-income segments. These funds will be used to provide loans to women as either the primary or co-borrower, promoting financial inclusion and empowering women to participate actively in the decision-making process of homeownership.
This program prioritizes eight Indian states with a substantial underserved population: Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh, and West Bengal. By focusing on these regions, the ADB and AHFL aim to create a wider societal impact, fostering financial security and stability for not only women but also their families.
