The US Department of State has announced the launch of the Trans-Caspian Enterprise Fund, which aims to stimulate private sector investments along the Trans-Caspian Trade Route — the Middle Corridor — in the South Caucasus and Central Asia.
Modern.az reports that this statement was included in a declaration released on the first anniversary of the Washington agreement between Azerbaijan and Armenia.
The US Department of State's statement indicates that the fund, which will be managed by a recently elected board of directors, will serve to promote private sector investments along the Trans-Caspian Trade Route — the Middle Corridor.
The State Department recalled that exactly one year ago, US President Donald Trump hosted Azerbaijani President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan at the White House and witnessed their signing of the historic Joint Declaration.
The US foreign policy institution stated that the Declaration ended decades of conflict in the South Caucasus and paved the way for the implementation of the “Trump Route for International Peace and Prosperity” (TRIPP).
“Over the past 12 months, the US has worked shoulder-to-shoulder with Armenia and Azerbaijan to turn this promise into progress,” the statement said.
The State Department noted that TRIPP — a multimodal transit route that includes the modernization of railway, road, energy, and digital infrastructure — is already on its way to implementation.
It was noted that engineering studies for the construction of a railway in Armenia have already begun. In Azerbaijan, the construction of roads and railways that will connect with Armenia is almost complete.
According to the US Department of State's assessment, the achievement of peace has also created opportunities for strengthening relations between the US, Azerbaijan, and Armenia, which will contribute to the economic prosperity of all three countries.
“The United States remains fully committed to working with Armenia and Azerbaijan. We congratulate both nations on the courage and foresight they demonstrated last year and look forward to future progress on the path to lasting and sustainable peace in the South Caucasus. Over the past 12 months, the US has worked shoulder-to-shoulder with Armenia and Azerbaijan to implement the provisions of the Declaration,” the statement emphasized.
It was stated that the Fund will be capitalized with $201 million in funding from the US government.
