KUALA LUMPUR, Dec. 23 (Xinhua) -- The World Bank's International Finance Corporation (IFC) and a consortium of six international financial institutions have committed over 900 million U.S. dollars in financing to global data-center operator Yondr Group's hyperscale data-center campus in Malaysia.
The World Bank said in a statement on Monday that DBS, Deutsche Bank, Global Infrastructure Partners (a part of Blackrock), HSBC, ING and Natixis CIB have joined the IFC in the latest round of financing for the 98-megawatt project in Johor Bahru.
The project is the first phase of a 72.5-acre data center campus that is set to deliver 300 megawatts of critical information technology capacity when fully complete.
It is set to become one of the largest and most technologically advanced data centers in the Asia Pacific, supporting rapidly growing demand for data processing capacity in the region.
The IFC announced an up to 150 million dollar financing package for Yondr's Malaysia project in May 2024,
"Our Johor campus is a landmark development for Yondr and will become an important part of Asia's infrastructure as demand for capacity continues to grow in the region, driven by the acceleration of artificial intelligence and digital services," said Chester Reid, chief financial officer at Yondr.
Judith Green, the World Bank Group's country manager for Malaysia, said this project will not only help accelerate the digital transformation of the wider Asia-Pacific region, but also serve as a strong example of how the IFC's tailored financing solutions can de-risk projects and drive private-sector investment into emerging markets. ■