YEREVAN, April 8. /ARКА/. Amundi-ACBA Asset Management will provide assistance to the students of the French University of Armenia, the press service of ACBA-CREDIT AGRICOLE BANK reported today.

It said the company will release a total of 30,000 euros which will be used to pay the students' tuition fees for 2019-2020 academic year.

“A difficult situation has developed across the world and in Armenia these days, which has also affected many students. For us, high-quality education is a value, and within our capabilities, we have always facilitated and assisted many students in obtaining education,” the company said.

It said also that in spring 2019, it signed a memorandum of cooperation with the French University of Armenia, whereby Amundi-ACBA Asset Management is to invest 40,000 euros from its profits in various educational projects of the university within the next three years.

"However, given the current situation, we have redirected our assistance by initiating this student assistance program. We hope that this situation will soon be in the past," the company said.

Amundi-ACBA Asset Management was founded by ACBA-CREDIT AGRICOLE BANK and the French company AMUNDI, the largest asset management company in Europe, which is also in the top ten asset management companies in the world. Amundi-ACBA Asset Management is one of the two companies managing Armenia's pension funds.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole, the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. -0-