For the first time in the history of the Armenian banking system, six financial institutions have united to provide $300 million in financing for an Firebird AI megaproject

On March 26, the official ceremony of signing the first syndicated loan agreement in the history of Armenia’s banking system between six financial institutions took place. The syndicate participants are Ardshinbank, Acba Bank, Evocabank, Fast Bank, C-Quadrat Ampega Asset Management Armenia, Amundi-Acba Asset Management Fund.

The total volume of investments in the first phase of the project is $450 million, the main part of which was formed 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 idea and megaproject to provide $300 million in financing to Firebird AI company.

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 Chargé d’Affaires of U.S. Embassy Yerevan David Allen.

The RA Minister of High-Tech Industry Mkhitar Hayrapetyan noted: “This is an investment not only in the company Firebird AI, but also in the development of Armenia’s technology sector, innovation, science, and economy. This mega-project 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 precise 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 noted: “The successful financing of the Firebird project demonstrates that the banking and financial system of Armenia has reached a qualitatively new level in recent years. It now possesses the capacity to evaluate, build, and support investment projects of such a 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 we can achieve between our two countries when we combine our talents in technological innovation. It also exemplifies the strengths of both of our countries – harnessing the value of advanced U.S. technology exports, including NVIDIA GPUs, and Dell technology, while drawing on Armenia’s advanced high-tech sector’s strengths and ambitions.”

This transaction sets a practical precedent for the application of such large-scale syndicated lending in the financial market of Armenia. It is the largest financing deal and the largest U.S. investment project in the economy of the Republic of Armenia.

Firebird’s AI factory is set to become the most powerful supercomputing and AI data processing center in the region. It will unlock the ability for research institutions, technology companies, and enterprises to deploy cutting-edge AI technologies at scale, positioning Armenia as a rising force on the global technology landscape and a key hub for next-generation innovation.

About Ardshinbank

Ardshinbank is Armenia’s leading bank. It provides a wide range of universal banking services, offering solutions in retail, corporate, investment, as well as private banking and asset management. Ardshinbank is the only Armenian company rated by all three of the world’s leading rating agencies: Standard & Poor's (BB- (Stable)), Moody’s (Ba3 (Stable)), and Fitch (BB- (Stable)). Ardshinbank’s rating is equal to that of the Republic of Armenia itself, which represents the highest possible assessment for a private institution in the country.