The project will support the Microfinance Institution - Grameen Financial Services Private Limited (GFSPL) in piloting new housing microfinance products targeted at the lower and lower-middle income segments in India, particularly in the rural areas. The project includes three main components: 1. Introduction of new products and innovation: GFSPL intends to launch new housing finance products targeted at its existing customers who meet certain pre-defined criteria as well as housing microfinance products for the following purposes: purchase or construction of new units, home extensions and home repairs/improvements. 2. GFSPL capacity building and scale-up of operations and reach: This component is part of a larger capacity building program, which is being developed by IFC and will provide training to GFSPL's top management and select staff in the following areas: market opportunities in housing microfinance; legal and regulatory frameworks; product development; internal systems and credit appraisal processes; risk management; access to funding; etc. IFC's capacity building support will enable GFSPL to develop its internal systems and processes to expand its housing finance operations footprint across India. 3. Development of a responsible finance management framework: As part of its broader responsible finance agenda, IFC will assist GFSPL in designing and developing a responsible finance management strategy, which will be integrated into its housing finance operations.