Published: 9th Mar, 2023
Context
SWAMIH Investment Fund have so far raised Rs.15,530 crore to provide priority debt financing for the completion of stressed, brownfield, and residential projects that are registered with Real Estate Regulatory Authority (RERA).
What is the SWAMIH investment fund?
- The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I is a social impact fund created with the objective of completing stressed and stalled Real Estate Regulatory Authority (RERA) registered projects.
- This is a government backed fund that was set up as a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI, launched in 2019.
- The Fund is sponsored by the Ministry of Finance, Government of India, and is managed by SBICAP Ventures Ltd., a State Bank Group company.
- Fund is considered as the lender of last resort for distressed projects because it funds first-time developers, established developers with troubled projects, developers with a poor track record of stalled projects, customer complaints and NPA accounts, and even projects where there are litigation issues.
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Alternative Investment Fund (AIF):
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