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Amundi-ACBA Asset Management and Armenia’s Ministry of Labor and Social Affairs signed a memorandum of cooperation. 

Amundi-ACBA Asset Management and Armenia’s Ministry of Labor and Social Affairs signed a memorandum of understanding. It said as part of cooperation, Amundi-ACBA Asset Management will allocate 10 thousand euros from its profits for the study of a strategy for introducing social housing system in Armenia. 

“Research on the development of a strategy for the development of social housing in Armenia is important to all of us. A long-term vision is needed to implement a program that will have a large social impact on the Armenian population. As a socially responsible company, we have always been able to implement such projects, since the outcome will allow us to solve problems in the near future,” said General Director of the company Jean Mazedjian. 

Taking the opportunity to expand the sphere of cooperation with partner organizations, Minister of Labor and Social Affairs Narek Mkrtchyan said the signing of the memorandum in the field of social protection was an important step. 

A special study will be carried out to develop a strategy for the implementation of the social housing system, including an analysis of international experience in this area, a study of the situation in Armenia, an assessment of needs by social group, their vulnerability, as well as other criteria for territorial distribution. 

Amundi-ACBA operates three funded pension funds in Armenia. The company is controlled by the Central Bank of Armenia.