IDFC enters into MoU with IIFCL for Syndication of debt financing for Infrastructure Projects

Infrastructure Development Finance Company Ltd (IDFC) has announced that the Company & India Infrastructure Finance Company Ltd (IIFCL) have entered into a Memorandum of Understanding (MOU) to combine their resources and expertise to finance infrastructure projects.

The MOU enables both the Company & IIFCL to co-operate in creating a pipeline of commercially viable infrastructure projects and evolve fast track approval processes for co-financing. The Company would appraise projects and undertake necessary activities to facilitate financial closure for projects.

Infrastructure Development Finance Company Ltd (IDFC) and India Infrastructure Finance Company Ltd (IIFCL) have entered into a Memorandum of Understanding (MoU) to combine their resources and expertise to finance infrastructure projects.

IDFC and IIFCL will co-operate in creating a pipeline of commercially viable infrastructure projects and evolve fast track approval processes for co-financing. The Company would appraise projects and undertake necessary activities to facilitate financial closure for projects.

Commenting on the joint initiative, Dr. Rajiv Lall, Managing Director & CEO of the Company said, "The joint effort of IDFC and IIFCL seeks to address the huge infrastructure financing needs of the country. India needs to invest over US$ 475 billion over the next 5 years and a collaborative approach is essential to develop the right structures to expedite financial closure of infrastructure projects. We look, forward to working with IIFCL in financing eligible infrastructure projects and to complement each others strengths, skills and expertise in expediting the investments in Indian, infrastructure."

Source : Equity Bulls

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