The Punjab National Bank Housing Finance (PNBHF) has signed an ag

The Punjab National Bank Housing Finance (PNBHF) has signed an ag
| The Punjab National Bank Housing Finance (PNBHF) has signed an agreement with which two agencies to raise USD 100 million to provide loans to affordable housing segment?

A. Japan International Cooperation Agency (JICA) and City Bank

B. Asian Development Bank and City Bank

C. Asian Infrastructure Investment Bank and City Bank

D. World Bank and Japan International Cooperation Agency (JICA)

E. None of these

Please scroll down to see the correct answer and solution guide.

Right Answer is: A

SOLUTION

* The Punjab National Bank Housing Finance (PNBHF) has signed an agreement with Japan International Cooperation Agency (JICA) to raise USD 75 million & with Citibank for USD 25 million to provide loans to affordable housing segment so as to improve the lives of low-income households & to promote sustainable economic growth in India.

* It is a 5-year long term loan which helps to balance the company’s Asset Liability Management (ALM) position.

* It is JICA’s first debt funding in India’s housing finance sector.

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