Indian data center firm Sify has secured new financing from the World Bank’s International Finance Corporation (IFC).

IFC this week announced a sustainability-linked investment with Sify Infinit Spaces Limited (SISL), a wholly owned subsidiary of Sify Technologies Limited.

The funding will support the development of two data centers in Navi Mumbai and Chennai with a combined capacity of 103MW. The facilities will be designed to host high-density workloads.

IFC will directly invest $71 million via a loan, and work with SISL to mobilize up to $300m to support the company’s growth and expansion in India.

Vikram Kumar, regional industry director, infrastructure and natural resources in Asia and the Pacific, IFC, said: “India’s digital transformation requires infrastructure that is equally scalable, resilient, and sustainable. 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, Sify Infinit Spaces Limited CFO, added: “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. 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 Infinit Spaces Limited is the data center subsidiary of Sify Technologies. Sify operates more than a dozen data centers across India, including Chennai, Lucknow, Noida, Mumbai, Bangalore/Bengaluru, Hyderabad, and Kolkata, totaling around 200MW.

IFC said the investment is aligned with the World Bank Group’s Country Partnership Framework for India, which focuses on building resilient infrastructure, boosting productivity, and complements broader World Bank Group efforts to support India’s digital transformation.

A member of the World Bank, IFC aims to encourage private-sector development in less developed countries. The group has provided financing to the likes of Togocom, Sonatel, Liquid Intelligent Technologies, Airtel Africa, DigitalBridge’s Scala Data Centers, and OData in Brazil, OADC, Raxio, Yondr, and others.