International Finance Corporation (IFC) and Amundi-Acba Asset Management unveiled a new partnership 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.

IFC reports that the Agreement 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.

It is noted that 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.

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. 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,” the news release reads.

“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.