1. The facility is designed to complement the Government of India's flagship affordable housing programme, the Pradhan Mantri Awas Yojana
  2. The promotional loan has a maturity of 15 years 
  3. KfW is one of Germany’s largest banks and a leading promotional bank worldwide 
The facility is designed to complement the Government of India's flagship affordable housing programme, the Pradhan Mantri Awas Yojana. Representational
The facility is designed to complement the Government of India's flagship affordable housing programme, the Pradhan Mantri Awas Yojana. Representational © Reuters

With an aim to achieve the Government of India's vision of 'Housing for All' and to provide loan facility for affordable housing, the State Bank of India (SBI) on Friday signed $274 million (nearly Rs 1,822.9 crore) agreement with Germany's KfW Development Bank. 

"With its focus on housing loans for economically weaker sections (EWS) and lower income group (LIG) households, the facility is designed to complement the Government of India's flagship affordable housing programme, the Pradhan Mantri Awas Yojana," cited the bank in a press release. 

“SBI is committed to support Government’s mission of Housing for All and this facility will be additional impetus to support this mission," State Bank of India deputy managing director Siddhartha Sengupta, said in a statement.1

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