The Union Cabinet chaired by Prime Minister Narendra Modi has given a go-ahead for establishment of a special window fund to provide priority debt financing for completion of stalled housing projects that are in the Affordable and Middle-Income Housing sector.
For the purpose of financing, the government will act as the sponsor, and total commitment to be infused by the government will be upto Rs 10,000 crore.
The fund will be set up as Category-11 Alternate Investment Fund (AIF) debt fund registered with SEBI and professionally run.
For the first AIF under the Special Window, it is proposed that SBICAP Ventures will be engaged as the Investment Manager.
