The US government has doubled the funding for the TRIPP+ fund operating in Armenia, increasing it from $201 million to $402 million. Modern.az reports that this information is stated in a report published in Armenian media.
According to the information, the fund was established on January 26 of this year – two weeks after the Washington meeting between Armenian Foreign Minister Ararat Mirzoyan and US Secretary of State Marco Rubio.
At the end of the meeting, the parties announced the creation of a company called TRIPP Development Company for the development of the TRIPP route passing through southern Armenia and the implementation of infrastructure projects.
26 percent of the company's shares will belong to Armenia, and 74 percent to the US side – TRIPP Development Company US, which will be registered in the US state of Delaware.
On the same day, the TRIPP+ Enterprise Fund was also established in Delaware. Konstantin Sokolov, a businessman who supports the Republican Party and especially Donald Trump in the US, was appointed as the head of the fund.
According to the information, the US State Department's Bureau of European and Eurasian Affairs allocated a $201 million grant to the fund on January 30. These funds were intended to be used by December 31, 2036.
However, with a change made to the document on July 16, the US government committed to increasing the fund's financing to $402 million. The period of use of the funds has not changed and remains valid until the end of 2036.
According to the source, the main part of the allocated funds is planned to be spent in Armenia.
