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NOAH in the Twin Cities gets financing boost from Freddie Mac

Here’s an acronym to get behind: NOAH, for naturally occurring affordable housing. Freddie Mac, the federal mortgage agency, is offering $100 million to finance first-time mortgages as part of a larger effort to preserve affordable housing in and around Minneapolis. The NOAH Impact Fund, an equity fund launched last year by the non-profit Greater Minnesota

Imperative Fund kickstarts $1.5 million community development project in Tabasco

The first phase of the project to alleviate poverty conditions for 500 families in the Mexican state will finance 36 houses and improve local roads and street lighting. The New York-based Imperative Fund invests in poverty alleviation initiatives in low-income communities by pooling funds and social enterprises to fill community gaps, including housing, internet, “poverty

Dutch bank launches €2 billion bond to tackle affordable housing shortage

An “Affordable Housing Bond” from Dutch public bank Nederlandse Waterschapbank is the second €1 billion-plus (+$1.1 billion) social housing bond to launch in the past year (paywall). Dutch cities, like many urban hubs worldwide, are grappling with a shortage of affordable housing; there is reportedly a 10-year wait for rent-controlled homes in Amsterdam. Nederlandse Waterschapbank’s

MyStrongHome launches with $8 million from Calvert Foundation for coastal climate adaptation

Often the discussion of climate resilience focuses on vulnerable overseas communities, but severe and changing weather patterns are also having a noticeable effect on many parts of the U.S., including the bayous of Louisiana. The investment from Calvert is part of the Bethesda, Md., nonprofit investment manager’s new Capital Aggregation initiative to syndicate fixed-income investment

Lok Capital backs Ummeed Housing Finance to extend low-income mortgages in India

Delhi-based Ummeed Housing Finance has raised $5.6 million from Lok Capital and Duane Park, seven months after the two investors backed a $3.5 million Series A round. Ummeed offers mortgages for low-income households and informal economy earners. Activity in India’s affordable housing market is taking off, thanks to a national plan to ensure all Indians have access

Oregon Community Foundation’s new impact fund will invest in for-profits

The Oregon Impact Fund will invest in for-profit organizations tackling affordable housing, healthcare and job creation in the state. Existing donors have committed $10 million to the fund; the foundation will match that amount and try to raise an additional $10 million. The fund will provide “growth capital for scaling proven [for-profit] models,” says president Max

KKR invests $31 million in affordable housing projects in India

U.S. private equity firm KKR & Co. has committed $31 million to development projects by Signature Global, a developer based in Gurgaon. High volume is the key to the huge opportunity in India’s affordable housing market, says Signature Global’s Pradeep Aggarwal. Also boosting the market: an interest-rate subsidy for low-income homebuyers offered by the Indian government