ADB Pledges $70 Million to Vastu Housing Finance to Boost Affordable Housing.

The Asian Development Bank (ADB), a multilateral funding agency headquartered in Manila, has pledged USD 70 million (approximately ₹595 crore) to Vastu Housing Finance to support affordable housing initiatives.

This funding will help improve access to sustainable and affordable housing loans for underserved borrowers, with 15% of the funds dedicated to first-time homeowners, according to a statement by Vastu Housing Finance.

The collaboration aims to address the credit gap faced by economically weaker sections and low-income groups, with a particular emphasis on empowering women through homeownership.

Vastu Housing Finance specializes in providing affordable housing loans to low-income and self-employed individuals, focusing on supporting women borrowers in Tier II to Tier IV cities across India.

Founded in 2015, Vastu Housing Finance received its initial funding from Multiples Private Equity, led by Renuka Ramnath, along with contributions from Pramod Bhasin, Samir Bhatia, and Vikram Gandhi.