IFAD to fund Karnataka biofuel program with $50 million soft loan

In India, the International Fund for Agricultural Development will lend the Karnataka government $50 million at 1% interest to further develop its biofuel program. The financing that will be paid back over 50 years will go to feedstock development as well as biofuel processing. Currently, 33 biofuel centers across the state have been set up to demonstrate biofuel production at the community level, producing about 100 liters of biodiesel per day, but they will be scaled up under the new program.