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PNB Housing Finance signs pact with JICA to raise $75 million

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PNB Housing Finance has signed an agreement with Japan International Cooperation Agency (JICA) to raise 75 million dollars (about ₹568 crore) with co-financing of 25 million dollars (about ₹190 crore) by Citibank to finance mortgage loans in the affordable housing segment.

This will provide affordable housing to low-income households in India based on the Facility for Accelerating Financial Inclusion in Asia. "This will be JICA's first debt funding in the housing finance sector in India.

We look forward to having a long term relationship with them," said PNBHF Managing Director Sanjaya Gupta. "In spite of the current lockdown, with our operational robustness and resilient human capital, the team worked relentlessly to have the agreement

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