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Estimated Total Budget Pending (Project budget includes all project-funded activities)
Last Updated Date
Jul 4, 2023
Project Estimated Start Date
Sep 15, 2020
Project Estimated End Date
Dec 31, 2023
Project Description
The project aims to guide and support Aavas Financier Ltd. to offer affordable green housing finance products; and help the firm develop a strategy and business plan through a provision of comprehensive suite of advisory services.
Development Results
IFC estimates a total green buildings / housing investment opportunity of USD 1.4 trillion in India from 2018 to 2030, with the residential sector accounting for USD 1.25 trillion (89%) of this opportunity. This project aims to address the financing gap challenges and improve access to affordable green housing for lower-income borrowers in the country, by supporting the client in the formulation and implementation of the strategy and business plan development to develop and scale affordable green housing finance. This project engagement will be supported by the United Kingdom government’s Market Accelerator Green Construction Program (MAGC).
Indicator
Cumulative
Number of trainers trained
29
Number of training modules and new products developed
1
Number of participants in workshops, training events, seminars, conferences, etc.
198
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
16
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
13
Number of workshops, training events, seminars, conferences, etc.
12
E&S Risks / Impacts and Mitigation
Performance Standard
Description and Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
As mandated by IFC's Sustainability Policy, the team has assessed the project's consistency with IFC Performance Standards using principles of Performance Standard 1 and no significant potential Environmental or Social risks were identified.
Given the low risk level, no mitigation measures are required at this stage.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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