Armenia has signed a syndicated loan agreement, raising $300mn from six financial institutions to finance Firebird AI’s major artificial intelligence project, the high-tech ministry said on March 27.

The project will establish an advanced AI data centre in Armenia, as the country seeks to expand its technology sector and deepen cooperation with international partners. 

The total value of the project’s first phase is estimated at around $450mn, with the syndicated loan covering a significant share. A second phase, bringing the total to around $4bn is envisaged, Firebird announced during US Vice President JD Vance’s visit to Yerevan in February. 

This is the first time Armenia’s banking system has used a syndicated structure to support a large-scale technology investment, the ministry said on March 27.

High-Tech Industry Minister Mkhitar Hayrapetyan said the deal reflects broader ambitions for the country’s economy.

“This is an investment not only in the Firebird AI company, but also in the development of Armenia’s technological sector, innovation, science, and economy,” he said.

He added that the project is linked to cooperation with the United States. “This project aims to bring the aforementioned memorandum to life and thus ensure concrete practical results for our country,” Hayrapetyan said, referring to agreements signed in Washington in 2025 on artificial intelligence and semiconductors.

The ministry said the agreement “defines a new practical lending format in the Armenian financial market,” and is the largest such deal in terms of both financing volume and scale of investment.