IFC, Amundi-Acba Launch Partnership to Increase Investment in Armenia’s Infrastructure
ՀԱՍԱՐԱԿՈՒԹՅՈՒՆIFC and Amundi-Acba Asset Management unveiled a new partnership today to catalyze private sector investment in infrastructure projects, and support job creation and economic growth in Armenia.
Amundi-Acba will become the world’s first pension fund manager to join IFC’s Master Cooperation Agreement, which provides a streamlined way for multiple lenders to provide financing to companies in developing countries, with IFC acting as lead arranger. Under the agreement, and within the framework of Armenia’s law on pension funds, the two organizations will assess the feasibility and opportunities to finance major infrastructure projects together in Armenia.
Lenders who adopt the agreement benefit from IFC's global loan syndication platform, which has raised more than $100 billion for private firms in emerging markets, as well as IFC’s expertise in deal-structuring, due diligence, environmental and social risk management, and impact measurement and monitoring. The aim is to scale up private capital mobilization to accelerate development and support climate mitigation and adaptation in emerging markets.
Amundi-Acba Asset Management is Armenia’s leading pension fund manager, with EUR 700 million in assets under management.
This partnership complements the cooperation between Amundi and IFC launched in 2018, when the two organizations announced the world’s largest targeted green bond fund focused on emerging markets, the Amundi Planet Emerging Green One. Amundi brings to this partnership its emerging market debt investment capabilities and its commitment to environmental, social, and governance (ESG) standards, while IFC brings its unique outreach in emerging countries. The two organizations work together to help direct capital to emerging markets through innovations and regular education and knowledge transfer programs designed for issuers and investors alike.
“While ensuring a dignified retirement for our participants remains our main mission, contributing to Armenia’s economic development through our investments is also essential. This agreement with IFC, one of the most prestigious international institutions, will help us achieve our goal,” said Jean Mazedjian, CEO of Amundi-Acba.
“Sustainable infrastructure is key to addressing development challenges in emerging markets, which is why supporting Armenia’s infrastructure is an important part of IFC’s mission. We welcome Amundi-Acba to our vast network of investment partners. By mobilizing capital, our goal is to amplify the positive impact of our financing on the lives of people in Armenia,” said Ivana Fernandes Duarte, IFC’s Regional Manager for the South Caucasus.
IFC launched its Master Cooperation Agreement in 2008 to foster greater collaboration among global investors and help meet the shortfall in private sector financing in developing countries. The agreement is a cornerstone of IFC’s work to enlarge the pool of responsible capital available to deliver positive social, environmental, and economic impact and help achieve the UN Sustainable Development Goals and the objectives of the Paris climate agreement.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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About Amundi-Acba
Amundi-Acba Asset Management was established in Armenia in 2013. Its 2 shareholders are Amundi (the largest asset manager in Europe with 1.924 trillion EUR assets under management) and Acba Bank (one of the major corporate banks in Armenia, listed in Armenia Securities Exchange). Amundi-Acba asset management manages three mandatory pension funds, benefiting from the Amundi advanced know-how, expertise, and technical support on fund management activities. Acting fairly and in the best interest of its funded system beneficiaries, Amundi-Acba is doing its best to become a key player in the sustainable development of Armenia, while creating an investment environment for investing in the future of the country.
For more information, visit: www.amundi-acba.am
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