Nhb, Uk Body Team Up For Affordable Hsg Projects
NHB, UK body team up for affordable housing projects in 8 States
The Hindu Business Line | October 15, 2013
The National Housing Bank (NHB) has joined hands with the UK Government’s Department for International Development (DFID) to launch an affordable housing project that will operate in eight low-income States.
This is the first time that NHB has come up with a programme that caters to specific States, said R. V. Verma, Chairman and Managing Director of NHB, here on Monday.
The project, which will cover Rajasthan, Madhya Pradesh, Odisha, Uttar Pradesh, Bihar, West Bengal, Chattisgarh and Jharkhand, was launched in the presence of the visiting UK Minister of State for International Development, Alan Duncan.
DFID has committed £50 million (about Rs 500 crore) over seven years (2013-19) towards the project.
This comprises two components: £40 million (Rs 400 crore) as a concessional loan (at 2 per cent interest rate) to NHB to finance the construction of affordable housing units and £10 million (about Rs 100 crore) as technical assistance to strengthen systems and fund innovative pilot projects and upgrade slum housing.