<h1>Revised ECB Policy Eases Entry for Housing Developers, Lowers Experience Requirement to 3 Years, Sets USD 1B Limit.</h1> The policy on External Commercial Borrowing (ECB) for low-cost affordable housing projects has been revised. Developers now require a minimum of three years of residential project experience, down from five, and must maintain a good track record. The minimum paid-up capital requirement for Housing Finance Companies (HFCs) has been relaxed, but the minimum Net Owned Funds requirement remains at INR 300 crore for the past three years. The ECB limit is set at USD 1 billion for 2013-14 and 2014-15, subject to review. This initiative aims to reduce construction costs and supplement domestic funding for affordable housing.