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KfW, the German Development Bank, The Housing Development Finance Corporation (HDFC), an Indian mortgage lender, and SKS Microfinance, an Indian microfinance institution (MFI), have entered an agreement to provide loans for home improvement to, primarily, low-income women [1,2,3]. Under a “special agreement,” KfW will provide HDFC with the funds for the project [1]. For the first tranche of funding, KfW will provide HDFC with INR 10 Crore, the equivalent of over USD 2.1 million, to loan to SKS [1]. In turn, SKS will loan to borrowers that have had at least three years of “good credit history” with the MFI [1]. Further details on the arrangement between KfW and HDFC – such as whether the financing is a grant or loan – have not been made public. The companies have indicated that the loans will mainly be extended for the improvement of homes that also serve as a site of an “income generating activity” [1].  Loan sizes will range from INR 50,000, the equivalent of over USD 1,080, to INR 150,000, the equivalent of over USD 3,240 [1]. Borrowers will have three to five years to repay the loans [1]. The interest rate will be 21 percent fixed on a reducing basis [1]. Renu Sud Karnad, the managing director of HDFC, has indicated that there will be more funding for the program in the future [1].