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Consortium including World Bank's IFC to lend $900 million for Yondr's Malaysian data centre

Economic Times

Economic Times · 6m ago

Consortium including World Bank's IFC to lend $900 million for Yondr's Malaysian data centre

A consortium of seven financial institutions, led by the International Finance Corporation (IFC), will provide over $900 million in funding to Yondr Group for the development of a data center campus in Malaysia. This investment comes amid growing global interest in the Asia-Pacific data center market, driven by increasing demand for AI-based services. The consortium includes DBS, HSBC, Deutsche Bank, ING, Natixis CIB, and Blackrock's Global Infrastructure Partners. Yondr Group's project in Johor Bahru will have a capacity of 98 MW initially, expanding to 300 MW upon completion. The IFC had previously committed up to $150 million in financing for this project.

Related News

Who owns how much stake in IPO-bound Avanse Financial?

Inshorts · 1y ago

Who owns how much stake in IPO-bound Avanse Financial?

Mumbai's Kedaara Capital, backing startups like Lenskart and Purplle, holds 13.82% of Avanse, making it the second-largest shareholder. The World Bank's IFC owns 11.36%, Abu Dhabi's Mubadala subsidiary Alpha Investment Company LLC holds 10.11%, and Kedaara Pichola has a 3.60% stake.

International Finance Corporation's investments hit a record at $56 bn

VCCircle

VCCircle · 9m ago

International Finance Corporation's investments hit a record at $56 bn

The International Finance Corporation (IFC), the World Bank's private investment arm, has reached a new record of $56 billion in investments for its financial year ending in June. This 28% increase is attributed to internal reforms and decentralised decision-making processes. The IFC aims to continue this growth and target $62 billion for the financial year ending in 2025. The focus will be on investing in infrastructure, particularly in roads and transportation, and collaborating with sub-sovereign entities like municipalities. The IFC also plans to increase equity investments and potentially take companies public on domestic stock markets.

French bank Societe Generale announces 900 job cuts in cost-cutting program

Livemint

Livemint · 1y ago

French bank Societe Generale announces 900 job cuts in cost-cutting program

French bank Societe Generale has announced plans to slash approximately 900 jobs at its Paris headquarters through voluntary departures. The move is part of the bank's cost-cutting program and represents less than 2% of its total workforce and around 5% of headquarters staff. The job reductions will be carried out through internal transfers, end-of-year support, or voluntary departures. This comes as banks around the world, including Deutsche Bank and Citigroup, seek to reduce headcount amid challenging market conditions.

International Finance Corporation proposes investment into A91 Partners’ third fund

YourStory

YourStory · 4m ago

International Finance Corporation proposes investment into A91 Partners’ third fund

The International Finance Corporation (IFC) is considering investing in A91 Partners’ third fund, targeting $675 million in total commitments. IFC, part of the World Bank Group, proposes an equity investment of up to $35 million and a co-investment of $30 million. The fund will provide capital to small and mid-market companies in sectors like consumer, financial services, healthcare, manufacturing, and technology, with investment sizes ranging from $10 million to $50 million across 15 companies.

IFC commits Rs 460 cr to IndiGrid to build India's largest battery energy storage project

Economic Times

Economic Times · 14d ago

IFC commits Rs 460 cr to IndiGrid to build India's largest battery energy storage project

IFC, part of the World Bank Group, has committed Rs 460 crore to develop India's largest standalone battery energy storage system in Gujarat through IndiGrid. This project, which supports Gujarat's clean energy goals and aims for 100 GW of renewable capacity by 2030, will enhance grid stability and provide reliable power during peak demand. The financing includes $38.5 million from IFC and $16.5 million from the Clean Technology Fund. This initiative is crucial for India's clean energy transition.

NIIF-controlled iBus gets new backer on board as another PE investor checks out

VCCircle

VCCircle · 10m ago

NIIF-controlled iBus gets new backer on board as another PE investor checks out

Digital infrastructure provider iBus Network and Infrastructure Pvt Ltd has secured International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, as a new investor. The IFC has invested Rs 280 crore ($34 million) to acquire a minority stake in iBus, offering an exit opportunity for current investors. This funding will help iBus expand its operations and strengthen its position in the digital infrastructure market.

IFC, Axis Bank partner on $500 million blue finance loan to boost India’s green projects | Mint

Livemint

Livemint · 9m ago

IFC, Axis Bank partner on $500 million blue finance loan to boost India’s green projects | Mint

- International Finance Corporation (IFC) partners with Axis Bank to provide a $500 million loan for green project financing in India. - This collaboration marks the IFC's first-ever blue investment in India and the country's inaugural blue loan issued by a financial institution. - Blue finance focuses on investments in water management, marine ecosystem restoration, sustainable shipping, and renewable energy. - The loan will help Axis Bank expand its climate-focused lending and contribute to the growth of India's water and wastewater treatment market and green building sector. - Axis Bank's partnership with IFC aims to strengthen standards and lending practices to boost sustainable finance in India and address the impacts of climate change. - IFC will also provide Axis Bank with advisory services to expand its green building portfolio and build capacity for impact reporting.

Oracle to invest $6.5 billion to set up cloud facilities in Malaysia

Economic Times

Economic Times · 9m ago

Oracle to invest $6.5 billion to set up cloud facilities in Malaysia

- Oracle plans to invest over $6.5 billion in setting up its first public cloud region in Malaysia. - Malaysia has seen significant investments from tech giants like Microsoft, Nvidia, Google, and ByteDance, primarily in cloud services and data centers. - The public cloud region will enable Malaysian organizations to modernize their applications, migrate workloads to the cloud, and leverage data analytics and AI. - The investment will allow Oracle's Malaysian customers, including government agencies and financial institutions, to use cloud services based within the country. - This would be Oracle's third public cloud region in Southeast Asia, expanding its presence in the region. - Oracle expects to cross $100 billion in revenue by fiscal year 2029, indicating the rising demand for its cloud services.

‘Modi hai toh mumkin hai…’ says Reliance Jio Infocomm’s Akash Ambani, praises ‘synergy between government and industry’

Livemint

Livemint · 9m ago

‘Modi hai toh mumkin hai…’ says Reliance Jio Infocomm’s Akash Ambani, praises ‘synergy between government and industry’

Reliance Jio Infocomm Chairman, Akash Ambani, expressed his admiration for Prime Minister Narendra Modi and the Indian government for their collaboration with the industry to deliver world-class services. Speaking at an event in Delhi, Ambani also stressed the importance of embracing artificial intelligence (AI) and urged the government to update the Data Centre Policy draft to ensure that Indian data remains within the country's data centers. He emphasized that AI has the potential to revolutionize various sectors, including agriculture, education, healthcare, and manufacturing.

The energy firm in sights of a global consortium

Livemint

Livemint · 1y ago

The energy firm in sights of a global consortium

A consortium comprising the International Finance Corp (IFC), Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB) is planning to invest approximately $250 million in Indian renewable energy company Fourth Partner Energy. The deal involves the sale of TPG Capital's 52% stake in the firm and a fresh equity investment of around $500 million. This investment comes as Fourth Partner Energy aims to expand its installed green energy capacity from 1.35 GW to 3.5 GW by 2025. India's commercial and industrial segment has attracted strong investor interest due to favorable regulations and the need for increased renewable energy capacity.

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