IFC, a member of the World Bank Group, is making a $2.6 million (RUB 83 million) equity investment in datacenter operator IXcellerate to support the construction of a major data facility, expanding access to information technology infrastructure for businesses in Russia.
Construction of a new top-tier datacenter with an internationally experienced management team will provide high quality services needed by the growing business community in Russia.
"The investment by IFC, a sophisticated investor with a successful track record supporting the technology sector in emerging markets, will allow us to establish a strong base and continue expanding our business in Russia," said Guy Willner, co-founder of IXcellerate.
This investment is part of IFC's strategic focus on developing all elements of infrastructure in Russia to support the private sector and encourage economic growth. The total project, expected to be the largest vendor-neutral datacenter in Russia, will cost an estimated $55 million (RUB 176 million).
Kent Lupberger, IFC Global Head of Telecom, Media and Technology, said, "In today's world, IT infrastructure is increasingly important for economic development. IXcellerate's new datacenter will provide a cost-efficient, reliable and secure environment for electronic information storage and processing to Russian and international companies, contributing to the creation of a favorable business and investment environment in the country."
Russia became a member and shareholder of IFC in 1993. Since then, IFC has invested nearly $6 billion in the country, including $1.5 billion in syndicated loans, and is involved in 250 projects across a variety of sectors. IFC's investment portfolio in Russia stands at $2.54 billion, the third-largest country exposure for IFC globally.