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IFC betting big on affordable housing in India: Mengistu Alemayehu

International Finance Corporation to create systemic impact, new asset class in quick time: Alemayehu

Ranju Sarkar New Delhi

Premium

Mengistu Alemayehu

Last Updated : Feb 22 2018 | 2:30 AM IST

International Finance Corporation, the investment arm of World Bank, is betting big on affordable housing in India. It has invested in a dozen companies that are either building affordable homes or lending to home buyers in this segment. In an email interview with Ranju Sarkar, the firm's South Asia Director MENGISTU ALEMAYEHU explains why IFC is bullish on this segment. Edited excerpts:

Why is IFC bullish on affordable homes?

We are quite bullish on affordable housing for a variety of reasons. First, there is a significant unmet demand, both for new homes as well as for improving old homes, across India. We are convinced that, to meet that demand, we have to play a leading role on the supply side, by working through property developers, as well as on the demand side, by working with housing finance companies.