India Infrastructure Finance Company Ltd. (IIFCL) and PTC India Financial Services Ltd (PFS) signed a Memorandum of Understanding (MOU) at IIFCL New Delhi, expressing the intent of both parties to strengthen cooperation in co-financing or consortium financing of various infrastructure projects through working together by joint pooling of respective complimentary resources. The MoU aims to utilise the expertise of both the organisations in the spirit of true consortium lending and also to closely extend long term financial support to various projects under infrastructure sector. The scope of the MOU covers cooperation in project finance, credit enhancement, refinance and other areas of mutual interest.
The MoU would help IIFCL and PFS to complement each others´ products and to give a complete package to infrastructure sector.
IIFCL and PFS will work together, enabling faster financial closure for providing long term funds at reasonable cost to eligible projects. It would also help both in finding new business opportunities. IIFCL also provides innovating financing solutions like takeout financing and credit enhancement. This MoU would enable co-operation of both parties in extending such innovative infrastructure financing solutions to eligible projects. IIFCL also has a comprehensive framework and a dedicated team for conducting environment and social due diligence which is very important for availing low cost long term funds especially from Multilateral Institutions. This MoU would enable PFS to avail such capacities from IIFCL. This MoU would also facilitate joint participation of both IIFCL and PFS in corporate social responsibility initiatives.