YEREVAN — On March 26, the official signing ceremony of the first syndicated loan agreement in the history of Armenia’s banking system took place, bringing together six financial institutions. The syndicate participants are Ardshinbank, Acba Bank, Evocabank, Fast Bank, C-Quadrat Ampega Asset Management Armenia, and Amundi-Acba Asset Management.
The total investment volume for the first phase of the project is $450 million, the majority of which has been secured through this syndicated financing. The transaction, initiated and led by Ardshinbank, marks a historic first for the Republic of Armenia, with six financial institutions uniting around a single vision and megaproject to provide $300 million in financing to Firebird AI.
The event was attended by delegations led by the RA Minister of High-Tech Industry, the Chairman of the Central Bank of Armenia, as well as U.S. Embassy Yerevan Chargé d’Affaires David Allen.
RA Minister of High-Tech Industry Mkhitar Hayrapetyan noted:
“This is an investment not only in Firebird AI, but also in the development of Armenia’s technology sector, innovation, science, and economy. This megaproject stems from the strategic documents signed in Washington in 2025, in particular the bilateral memorandum of understanding in the fields of artificial intelligence and semiconductors, which will ensure tangible practical outcomes for our country—thanks to the active support of the governments of the Republic of Armenia and the United States, the efforts of the company’s founders, as well as the investments of the Armenian financial and banking community.”
Chairman of the Central Bank of the Republic of Armenia Martin Galstyan stated:
“The successful financing of the Firebird project demonstrates that Armenia’s banking and financial system has reached a qualitatively new level in recent years. It now possesses the capacity to evaluate, structure, and support investment projects of such scale and international significance. The second phase of the project, announced during the visit of U.S. Vice President Vance to Yerevan in February, envisages the addition of around 41,000 NVIDIA processors, bringing the total investment volume to approximately $4 billion. This will place Armenia among the countries with the largest and most powerful artificial intelligence computing infrastructures in the world.”
U.S. Embassy Yerevan Chargé d’Affaires David Allen emphasized:
“Firebird’s AI data center is a model for what our two countries can achieve when we combine our talents in technological innovation. It also exemplifies the strengths of both nations—harnessing the value of advanced U.S. technology exports, including NVIDIA GPUs and Dell technologies, while drawing on the strengths and ambitions of Armenia’s advanced high-tech sector.”
This transaction sets an important practical precedent for the application of large-scale syndicated lending in Armenia’s financial market. It is the largest financing deal and the largest U.S. investment project in the economy of the Republic of Armenia to date.
Firebird’s AI factory is set to become the most powerful supercomputing and AI data processing center in the region. It will enable research institutions, technology companies, and enterprises to deploy cutting-edge AI technologies at scale, positioning Armenia as a rising force in the global technology landscape and a key hub for next-generation innovation.
