Nodal Agency for Sugar Development Fund

IFCI Ltd. has been acting as the nodal agency of the Government of India (GOI) since inception of the Sugar Development Fund (1986) for the purpose of disbursement, follow-up and recovery of SDF loans sanctioned to private sugar factories for modernization-cum-expansion, setting-up of bagasse based cogeneration power projects, manufacture of ethanol from alcohol/molasses, zero liquid discharge (ZLD) distillery projects, case development schemes, etc.

As a Nodal agency of GOI, IFCI is primarily responsible for examination/execution of loan and security documents, recommendation to GOI for release of funds, undertaking site visits for verification of physical and financial progress, verification of utilization of loan monies released by SDF, maintaining loan accounts of borrowers, recovery of SDF dues, taking legal actions against defaulters, etc.

In addition, IFCI also carries out financial appraisals of projects for availing SDF loans by sugar mills. The cumulative Sanction and Disbursement under SDF up to March 31, 2017 stood at Rs.6,436 crore and Rs.5,028 crore respectively.