An agreement concluded between the Regulatory Authority and the National Housing Finance Corporation (NHFC) must—
| (a) | set out the roles and responsibilities of the NHFC and the Regulatory Authority in respect of social housing; |
| (b) | specify the eligibility criteria of social housing projects for loan funding; |
| (c) | specify the terms and conditions of such loan funding including— |
| (iii) | conditions (such as guarantees, collateral etc); |
| (d) | specify the process to approve, allocate and administer such loan funding and in this regard— |
| (i) | set out the approvals process and timeliiles; and |
| (ii) | set out the payments process and timelines; |
| (e) | provide for regular monitoring of social housing projects in respect of loan performance and in this regard— |
| (i) | set out the monitoring information requirements; |
| (ii) | set out the monitoring process and timelines; and |
| (iii) | set out the minimum reporting submission requirements and submission dates to the Regulatory Authority. |
