IFC to invest US$35mn in Brazilian data centre firm OData
The World Bank Group’s International Finance Corporation (IFC) has invested US$35mn to aid in the expansion of Brazilian data centre services provider ODATA.
The funds will allow ODATA, a provider of data centre infrastructure to a wide range of industries, such as cloud and telecommunications, to expand its operations throughout Latin America and its three existing data centres in Brazil.
“In Brazil, one of IFC’s strategic priorities is to improve access to quality data centre services by promoting connectivity and supporting carrier-neutral infrastructure providers. Amid the ongoing pandemic, IFC’s investment will help increase market competitiveness for data hosting services in Latin America, enabling productivity and wider usage of digital services. This will help Brazil achieve a sustainable digital economy,” said Carlos Leiria Pinto, IFC’s Brazil Country Manager.
Investing in the digital infrastructure to support demand
IFC has been investing in Brazil’s private sector since 1957. In the fiscal year 2020, IFC’s new long-term investments in Brazil, across all sectors, totalled US$2.2bn, including US$615mn in third-party resources.
Post-COVID, increased investment to prepare Brazil’s digital infrastructure for a rise in information and communication technology-enabled services will be critical for the country’s economic recovery strategy.
With a focus on serving its global customers through a single platform, ODATA is boosting its business in the region. This is to help to prepare Brazil’s digital infrastructure for a rise in information and communication technology-enabled services.
In addition to expanding its three data centres in Brazil and one in Colombia, the company has started construction in Mexico and Chile and is developing a new building in Rio de Janeiro.
“In addition to providing high quality financing that enhances our competitiveness in the market, IFC helps us to improve our environmental and social standards and we look forward to expanding our relationship to the other countries in the region, where we are deploying new capacity”, said Rafael Bomeny, ODATA Vice-President and Chief Financial Officer (CFO).
