In a landmark development for Armenia’s financial sector, six financial institutions have signed the country’s first-ever syndicated loan agreement to finance a major technology project.
Under the deal, leading banks and investment firms have joined forces to provide $300 million in financing to Firebird AI, marking the largest transaction of its kind in Armenia’s banking history.
Armenia’s Minister of High-Tech Industry, Mkhitar Hayrapetyan, congratulated the participants, emphasizing that the investment goes beyond a single company.
“This is an investment not only in Firebird AI, but also in Armenia’s technology sector, innovation ecosystem, science, and overall economic development,” he said.
The minister also expressed gratitude to the United States government, noting that the megaproject stems from strategic agreements signed in Washington in 2025, particularly a bilateral memorandum of understanding in artificial intelligence and semiconductor sectors.
According to Hayrapetyan, the initiative represents a concrete implementation of those agreements, delivering tangible results through the joint efforts of the Armenian and U.S. governments, the company’s founders, and Armenia’s financial community.
Remarks were also delivered by Martin Galstyan, Governor of the Central Bank of Armenia, and David Allen, U.S. Chargé d’Affaires in Armenia, as well as representatives of the participating institutions. Speakers highlighted the significance of the deal for the development of Armenia’s financial market and the expansion of international cooperation.
The agreement introduces a new model of corporate lending in Armenia and stands as the largest transaction in terms of both financing volume and investment scale.
The project aims to establish a state-of-the-art artificial intelligence data center in Armenia, powered by advanced solutions from NVIDIA.
The total investment for the first phase of the project is estimated at around $450 million. A substantial portion of the funding is being provided jointly by six financial institutions: Ardshinbank, Acba Bank, Evocabank, Fast Bank, C-Quadrat Ampega Asset Management Armenia, and Amundi-ACBA Asset Management.
