New Delhi, Mar 29 (PTI) IFC, the investment arm of World Bank, will invest Rs 150 crore in the residential housing projects of developer Ashiana Housing. Also Read - PNB Housing Finance Raises $100 Million From IFC Via ECB Route

Ashiana Housing Ltd (AHL) and International Finance Corporation (IFC), a part of World Bank Group, have entered into an agreement to co-invest in upcoming affordable and middle income residential projects including in senior living projects, the realty firm said in a BSE filing. Also Read - Tata Cleantech Capital raises Rs 180 cr via maiden green bond

“The agreement envisages a total investment of Rs 150 crore on a project to project basis by IFC, representing 40 per cent of the capital required by a project. The remaining 60 per cent of the capital required, i.e. Rs 225 crore, will be contributed by AHL,” it said. Also Read - Moglix raises USD 23 mn led by Accel Partners, others

The investment of IFC will primarily be in the form of non-convertible debentures for identified projects with returns linked to project specific returns, it added.

This is published unedited from the PTI feed.