<h1>IL&FS Infrastructure Debt Fund partners with eight banks to tackle $1 trillion infrastructure funding gap in five years.</h1> IL&FS Infrastructure Debt Fund signed a Memorandum of Understanding with eight public sector banks to acquire infrastructure loans, aiming to address the need for over one trillion US dollars in infrastructure funding over five years. The government and private sector will each contribute 50% to this investment. The agreement, attended by key finance officials, is seen as a step towards necessary infrastructure reforms to sustain an 8% growth rate. IL&FS plans to initially raise a corpus of one billion USD, with a target of five billion USD. The fund has received high ratings, indicating strong credit protection.