IFC, Consortium Commit Over US$900 Mln In Financing To Data Centre In Malaysia – World Bank
KUALA LUMPUR, Dec 23 (Bernama) -- The International Finance Corporation (IFC) and a consortium of six international financial institutions have committed more than US$900 million (US$1 = RM4.50) in financing to Yondr Group’s hyperscale data-centre campus in Malaysia, said the World Bank Group.
IFC is the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group.
In a statement today, the bank said DBS, Deutsche Bank, Global Infrastructure Partners (part of BlackRock), HSBC, ING, and Natixis CIB joined IFC in the latest round of financing for the 98-megawatt project in Johor Bahru.
The project marks the first phase of a 29.34-hectare data-centre campus set to deliver 300 megawatts of critical IT capacity upon completion.
“The project is set to become one of the largest and most technologically advanced data centres in the Asia-Pacific, supporting the rapidly growing demand for data processing capacity in the region,” it said.
The World Bank said IFC announced an up to US$150 million financing package for Yondr’s Malaysia project in May 2024, comprising an initial US$50 million bridge loan that played a crucial role in advancing the project and attracting the six international financial institutions into this most recent financing round.
It said IFC has now committed its second tranche of financing of US$100 million alongside financing from other lenders.
World Bank Group’s country manager for Malaysia, Judith Green, said this project will not only help to accelerate the digital transformation of the wider Asia-Pacific region but also serve as a strong example of how IFC’s tailored financing solutions can de-risk projects and drive private-sector investment into emerging markets.
“We are delighted to commit this second tranche of our financing for Yondr’s data-centre campus in Malaysia,” she said.
The project is IFC’s third investment in Malaysia since establishing a presence in the country in 2023.
-- BERNAMA