The International Finance Corporation (IFC) and a consortium of six global financial institutions have approved a loan of over $900 Million (RM4 Billion) to US-based Yondr for the construction of its data center in Malaysia.
DBS, Deutsche Bank, Global Infrastructure Partners, HSBC, ING, and Natixis CIB have joined IFC in the World Bank’s investment and advisory arm, following the latest round of financing for a 98-megawatt project in Johor Bahru, the first phase of a 72.5-acre hyperscale data center.
World Bank Group Manager for Malaysia, Judith Green, said the project serves as a strong example of how IFC’s tailored financing solutions are less risky and drive private sector investment into new markets.
IFC first announced a financing package of up to $150 million for Yondr’s Malaysia project in May 2024, which helped attract six international financial institutions to a second round of financing for the project, which has a total capacity of up to 300 megawatts.
The project is IFC’s third investment in Malaysia since the multilateral development institution established an office in the country last year.
Yondr Chief Financial Officer Chester Reid said Johor is a landmark for Yondr’s development and will be a key 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. – The Edge Malaysia
