U.S. official Aryeh Lightstone (left) and businessman Konstantin Sokolov meet Prime Minister Nikol Pashinyan in Yerevan on Aug, 5
The United States government has doubled the funding for the TRIPP+ Enterprise Fund, increasing it from the initial $201 million to $402 million. A senior adviser to U.S. envoy Steve Witkoff and the fund’s director Konstantin Sokolov held meetings with Armenian officials on Tuesday.
According to official U.S. government data, the brunt of the fund is to be spent in Armenia for the development of the Trump Route for International Peace and Prosperity—an agreement signed with the U.S. by Prime Minister Nikol Pashinyan and President Ilham Aliyev of Azerbaijan last August in Washington.
The funding is linked to the TRIPP connectivity initiative, which envisions the development of a transport route through southern Armenia aimed at connecting the South Caucasus to the Trans-Caspian Transport Corridor.
On January 30, the State Department’s Bureau of European and Eurasian Affairs awarded a $201 million grant to the TRIPP+ Enterprise Fund, with the implementation period set to run until December 31, 2036. On July 16, an amendment to the grant agreement increased the funding commitment to $402 million, without extending the project completion deadline.
The TRIPP+ Enterprise Fund was established on January 26, two weeks after a Washington meeting between Foreign Minister Ararat Mirzoyan and Secretary of State Marco Rubio.
At the conclusion of that meeting, the sides released a document stating that they would establish the TRIPP Development Company — an entity responsible for ensuring the development and implementation of infrastructure for the TRIPP project. Armenia will hold a 26 percent stake in the company, while the United States will have 74 percent.
The increase in U.S. funding comes at a time when Washington is seeking to expand its engagement in the South Caucasus by supporting the development of transport and economic connectivity, as well as advancing projects linking the region to the Trans-Caspian Corridor.
To discuss developments with the TRIPP project, the U.S. dispatched Aryeh Lightstone, a top advisor to Special U.S. Envoy Steve Witkoff and Sokolov, a Russian-born American entrepreneur who was recently appointed by the State Department as chairman of the TRIPP+ Fund. The two met with Prime Minister Nikol Pashinyan on Wednesday in Yerevan.
According to a read out from the prime minister’s office, the meeting focused on discussion of the implementation of the TRIPP project. They also expressed confidence that “as a result of the resolution of technical issues, practical steps in that direction will be even more visible in the near future.”
Before being appointed to chair the TRIPP+ Fund, Sokolv already had business interests in Armenia that include a major stake in one of the country’s three mobile phone operators, VivaCell. Days after his announcement was made public, Sokolov was linked to a U.S.-based company, which took over Armenia’s Teghut mine.
Lighhouse and Sokolov also met with Foreign Minister Mirzoyan and discussed opportunities and programs for expanding trade and economic cooperation, as well as cooperation aimed at strengthening Armenia’s economic and energy resilience, according to a foreign ministry statement.
The meeting included detailed discussions on promoting regional connectivity and leveraging competitive advantages along this path. The parties addressed ongoing efforts to implement the TRIPP program, with both sides emphasizing their interest in ensuring the program’s implementation on the ground as soon as possible.
They also exchanged views on prospects for Armenia’s most effective integration into international transportation and infrastructure systems.
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