FCC

Govt-backed SWAMIH Fund helped unlock 350,000 mn liquidity

2023-03-06

According to a top executive of the fund, the government-backed and SBICAP Ventures-managed Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH) last-mile financing platform has helped unlock liquidity worth over 350,000 million by assisting the completion of stalled housing projects across the nation.

130 projects with sanctions totalling 125,000 million have received final approval through the finance ministry's 155,300 million fund to date. For the next three years, it plans to finish approximately 81,000 homes in 130 projects spanning 30 tier 1 and 2 cities, with 20,557 homes already completed.

In order to get the fund's total close to 155,300 million, the government recently stated its intention to contribute an extra 50,000 million. The extra commitment will allow the fund to keep reviewing agreements through December 2024.