India: INDIA MORTGAGE GUARANTEE COMPANY

Nonsovereign Project | 42926-014

Summary

The project has established the first mortgage guarantee company in India, the India Mortgage Guarantee Company (IMGC). IMGC will provide partial credit risk coverage in the form of guarantees to mortgage lenders in the event of borrower default.

Latest Project Documents

Title Document Date
India Mortgage Guarantee Company Aug 2008

Consulting Notices

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Project Name INDIA MORTGAGE GUARANTEE COMPANY
Project Number 42926-014
Borrower/Company INDIA MORTGAGE GUARANTEE COMPANY
Country India
Location India.
Approval Number 7283
Type or Modality of Assistance
7283 Equity Investment INR 5.25 million Committed
Strategic Agendas
Drivers of Change
Sector / Subsector Finance - Housing finance
Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer Paul Robert Flegler
Project Sponsor(s)
Description The project has established the first mortgage guarantee company in India, the India Mortgage Guarantee Company (IMGC). IMGC will provide partial credit risk coverage in the form of guarantees to mortgage lenders in the event of borrower default.
Objectives and Scope IMGC will help to develop the mortgage market in India by creating greater access to mortgages for borrowers.
Linkage to Country/Regional Strategy The country operations business plan for 2008-2010 broadly outlines ADB's strategy in India and is part of the larger draft country partnership strategy for 2008-2012. IMGC directly addresses the Government's concern for tackling housing shortages as outlined in the 11th Five Year Plan for 2007-2011, and is within the core ADB targets of supporting urban and rural development projects through access to housing for a broader spectrum of people
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 26 Jun 2008
Due Diligence 15 Jun 2008
Credit Committee Meeting 25 Jul 2008
Approval 22 Aug 2008
PDS Creation Date 05 Aug 2008
Last PDS Update 16 Sep 2014
Title Document Type Document Date
India Mortgage Guarantee Company Reports and Recommendations of the President Aug 2008

Safeguard Documents

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No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

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