IFC Backs HDFC Capital’s H-CARE 3 with $150 Million
Why in the news
The International Finance Corporation (IFC) pledged USD 150 million to H-CARE 3, a green affordable housing fund.
Key facts
- IFC is anchor investor in HDFC Capital Affordable Real Estate Fund – 3.
- Targets green-certified homes for low- and middle-income buyers.
- Promotes sustainable building aligned with India’s climate goals, and gives developers long-term funds.
About IFC and H-CARE
- IFC: World Bank Group member backing private sector growth in emerging markets.
- H-CARE: managed by HDFC Capital Advisors Ltd; finances affordable and mid-income housing.
Exam angle
- Amount: USD 150 million; IFC belongs to the World Bank Group.