Shukla: India uses comprehensive financing model for affordable housing

The housing problem of economically vulnerable urban populations cannot be solved through subsidies alone, Sanjay Shukla, Managing Director of the National Housing Bank of India, said during an event held within the framework of World Urban Forum 13 in Baku.

Report quotes him as saying financial institutions use a comprehensive model to address this issue.

"In addition to subsidies, in some cases the bank provides a land plot, while construction is carried out by the recipient of the land. In other cases, we finance part of the subsidy as well as the interest on the mortgage loan," he said.