NHB to get 112 mn euros from AFD for energy efficient houses

Housing finance regulator NHB today said Agence Fran aise de D veloppement (AFD) of France has committed 112 million euros for financing energy efficient residential housing.

Under this project, AFD has sanctioned a financial assistance of euro 112 million comprising two component namely, euro 100 million as loan from AFD and euro 12 million as grant from the European Union under the Asian Investment Facility, National Housing Bank (NHB) said in a statement.

The fund will focus on "Financing energy efficient residential housing and related infrastructure under Sustainable Use of Natural Resources and Energy Facility (SUNREF) Housing", it said.

The grant fund will be used to reduce costs for accession to the green housing market by allowing the NHB to reduce the cost of the financial resources to be provided to primary lending institutions and by supporting the cost of a green label certification for housing projects, it said.

"The expected outcomes and impacts of the project are to create demonstrative effect in order to influence the housing industry; to popularise a green labelling approach which is supplementary to necessary regulation measures and to make green housing affordable to low-income households," it said.

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