2024-03-10 23:28:22
The International Finance Corporation (IFC) and Amundi-Akba Asset Management are launching a new partnership to help accelerate private sector investment in Armenia’s infrastructure, as well as support job creation and economic growth in the country.
Amundi-Akba is the first pension fund manager worldwide to join the IFC’s Master Partnership Agreement.
The Master Cooperation Agreement provides a simplified way for multiple lenders in developing countries to provide financing to companies in a single package. According to this agreement and the law on pension funds, the two organizations will evaluate the feasibility and possibilities of financing large projects in the infrastructure of Armenia.
Lenders accepting the agreement benefit from IFC’s loan syndication platform, which has raised more than $100 billion for private companies in emerging markets, as well as IFC’s expertise in deal structuring, due diligence, environmental and social risk management, and impact measurement and evaluation. . IFC aims to scale up the mobilization of private capital to accelerate development in emerging markets and support climate mitigation and adaptation.
Amundi-Akba Asset Management, with more than $700 million in assets under management, is the leading pension fund manager in Armenia.
This agreement complements the long-term partnership between France’s Amundi and IFC that began back in 2018, when the latter announced the launch of Amundi Planet Emerging Green One, the world’s largest dedicated green bond fund focused on emerging markets. Amundi leverages this partnership with its investment capabilities in emerging market debt instruments and commitment to ESG (environmental, social and governance) compliance, and IFC with its unique reach in developing countries. The two companies have joined forces to channel capital into emerging markets through investment innovation, regular education and knowledge transfer programs designed for both issuers and investors.
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“Providing a decent pension for the beneficiaries of the funds managed by us remains our main mission. At the same time, it is important for us to contribute to the development of Armenia’s economy through our investments. This agreement with IFC, one of the most prestigious international institutions, will help us achieve our goal,” said Zhan Mazejian, executive director of Amundi-Akba.
“Sustainable infrastructure is key to meeting challenges in emerging markets, which is why supporting Armenia’s infrastructure is an important part of IFC’s mission. We welcome Amundi-Akba to our vast network of investment partners. By mobilizing capital, our goal is to expand the positive impact of our financing on the lives of the people of Armenia,” said Ivana Fernandez Duarte, regional head of IFC in the South Caucasus.
The IFC established the Master Cooperation Agreement in 2008 to promote greater cooperation among global investors and fill the gap in private sector financing in developing countries. The agreement is a cornerstone of IFC’s work to expand the pool of responsible capital available to deliver positive social, environmental and economic impact and help achieve the UN’s Sustainable Development Goals and the goals of the Paris Climate Agreement.
About IFC
IFC is a member of the World Bank Group, the largest global development institution focused on the private sector in emerging markets. IFC works in more than 100 countries, leveraging its capital, expertise and influence to create markets and opportunities in developing countries. 2022 During the fiscal year, IFC committed a record $32.8 billion to invest in private companies and financial institutions in developing countries, realizing the potential of the private sector to end extreme poverty and promote universal prosperity as economies struggle with the effects of deepening global crises. For more information, visit www.ifc.org.
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Amundi-Akba Asset Management was founded in 2013 in Armenia. The company’s 2 shareholders are Amundi (Europe’s leading asset manager with assets under management of 1.924 trillion euros) and Akba Bank (one of the largest commercial banks in Armenia, whose shares are listed on the most liquid A platform of the Armenian Stock Exchange). Amundi-Akba manages three mandatory accumulated pension funds based on Amundi’s advanced experience (know-how), as well as professional and technological support. In the context of assuming a key role in the sustainable development of Armenia, Amundi-Akba spares no effort in creating an investment environment in the country and investing in the future of Armenia, based on the best interests of the participants of the accumulated pension system.
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