Infrastructure Development Finance Company Ltd (IDFC), Bank of India (BoI) and Union Bank of India (UBI) have entered into a MOU for financing infrastructure projects.

The MoU enables the three to capitalise on their respective strengths to co-operate in debt financing for infrastructure projects to enable infrastructure companies raise finance and achieve quicker financial closure for large infrastructure projects.

As part of the MoU, all the parties will co-operate to facilitate joint identification, marketing, appraisal and underwriting of project finance which will provide a wide range of financial products for infrastructure projects.