IFC Provides $71 Million Loan to Indian Data Center Firm Sify for 103MW Expansion
June 22, 2026
IFC Provides $71 Million Loan to Indian Data Center Firm Sify for 103MW Expansion
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a sustainability-linked investment in Sify Infinit Spaces Limited (SISL), the data center subsidiary of Indian digital infrastructure company Sify Technologies. The financing is aimed at accelerating the development of two new data center facilities in Navi Mumbai and Chennai, which together will deliver a combined capacity of 103 megawatts. These facilities are specifically designed to support high-density workloads, a critical requirement for the growing cloud and artificial intelligence sectors in India.
Under the terms of the deal, the IFC will directly invest $71 million through a loan. Beyond this initial capital, the organization will work with SISL to mobilize up to $300 million from additional sources to support the company’s broader growth and expansion strategy across India. This capital injection comes at a time when the Indian data center market is experiencing explosive growth, fueled by rapid digitalization, increased data consumption, and the expansion of hyperscale cloud services.
Vikram Kumar, IFC’s Regional Industry Director for Infrastructure and Natural Resources in Asia and the Pacific, emphasized the broader significance of the investment. “India’s digital transformation requires infrastructure that is equally scalable, resilient, and sustainable,” he said. “Through this investment, IFC is helping strengthen and build out the country’s digital ecosystem, support the growing demand for cloud and AI services, and boost digital inclusion.”
Ganesh Sankararaman, CFO of Sify Infinit Spaces Limited, highlighted the strategic value of the partnership. “The partnership with IFC represents another significant milestone in Sify's journey to become India's leading digital infrastructure company. The confidence reposed in us by a globally respected institution such as IFC is a strong endorsement of our vision, execution capabilities, and long-term growth strategy,” he stated. “With IFC as our partner, we gain not only access to capital but also a powerful vote of confidence that strengthens our position in the market and supports our ambitious expansion plans.”
Sify Technologies currently operates more than a dozen data centers across key Indian cities, including Chennai, Lucknow, Noida, Mumbai, Bengaluru, Hyderabad, and Kolkata, with a total operational capacity of approximately 200MW. The new projects in Navi Mumbai and Chennai represent a significant step toward increasing that footprint by more than 50%. The IFC noted that the investment aligns with the World Bank Group’s Country Partnership Framework for India, which prioritizes building resilient infrastructure and boosting productivity, while also complementing broader efforts to support India’s digital transformation. As a development finance institution, the IFC has a track record of backing digital infrastructure projects globally, having previously provided financing to companies such as Liquid Intelligent Technologies, DigitalBridge’s Scala Data Centers, and Yondr.
Source: datacenterdynamics
