ArmInfo. Acba Bank and Amundi-Acba Asset Management have allocated a total of $45 million to Firebird to support the development of an artificial intelligence (AI) infrastructure in Armenia. Specifically, Acba Bank contributed $25 million, and Amundi-ACBA Asset Management $20 million, according to a statement from Acba Bank.
Acba Bank CEO Hakob Andreasyan emphasized: "The implementation of this project will have enormous significance and impact for Armenia - it will open new horizons for our country. Armenia will begin to play a significant technological role not only regionally, but also globally. We participated in this project together with Amundi-Acba. In addition to financial support, Amundi-Acba also conducted an analysis of the entire project." US Charge d'Affaires in Armenia David Allen stated: "The relationship between the US and Armenia, particularly in the technology sector, is very strong and continues to grow. We are entering a new phase where we will see new investments and expanded partnerships. This is a good example of what can be achieved when American technology is combined with Armenia's high-tech potential, knowledge, and human resources. This combination will not only help Armenia become a technological leader and boost the country's economy, but will also contribute to job creation and economic growth."
Central Bank of Armenia Governor Martin Galstyan noted: "The international permit obtained through this project includes advanced semiconductor technologies, which, as US Vice President Vance emphasized, are unavailable to most countries in the world. The fact that Armenia has received such an exclusive permit testifies to the strength of our partnership with the United States and also reflects a shared strategic vision, which is based on establishing Armenia as a key hub for advanced technology and global innovation."
RA Minister of High-Tech Industry Mkhitar Hayrapetyan noted: "These are, first and foremost, direct investments in the development of Armenian technology, science, and the economy. I am pleased that such programs in Armenia are no longer just a dream-they are a reality, around which high-quality consolidation is taking place."
Firebird AI CEO Alexander Yesayan noted: "I am pleased that our financial institutions have also joined this project. After painstaking work, we earned the trust of financial institutions, and together we were able to conclude a $300 million deal. This deal, in my opinion, is one of the largest, if not the largest, in the history of Armenia in terms of its scale and significance."
It is worth noting that for the first time in the history of the Armenian financial and banking system, six financial institutions entered into a syndicated loan agreement for $300 million to finance an AI megaproject. The signing ceremony for this agreement took place on March 26 of this year. The syndicate members are Ardshinbank, Acba Bank, Evocabank, Fast Bank, C-Quadrat Ampega Asset Management Armenia, and Amundi-Acba Asset Management. These six financial institutions have united around a single idea and megaproject: financing Firebird AI.
The total investment in the first phase of the project is $450 million, the majority of which is provided by this syndicated financing. The second phase of the project, announced during US Vice President Vance's visit to Yerevan in February, includes the deployment of an additional 41,000 NVIDIA processors, bringing the total investment to nearly $4 billion. This means Armenia will be among the countries in the world with the largest and most powerful AI computing infrastructure.
According to US Charge d'Affaires in Armenia, David Allen, "This partnership also reflects the strengths of our two countries, leveraging leading US technology exports, including NVIDIA graphics processing units (GPUs) and Dell technology, and building on the potential and ambitions of Armenia's advanced high-tech sector."
This transaction establishes a new practical format for the use of such a broad syndicated loan in the Armenian financial market. The transaction is the largest in terms of financing volume, and the project is the largest US investment in the Armenian economy.
The Firebird AI Factory will be the most powerful computing and data center for artificial intelligence in the region. It will enable research institutions, technology companies, and enterprises to implement cutting-edge AI technologies on a large scale, positioning Armenia as a rising force in the global tech landscape and a key hub for next- generation innovation.
