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The Trump Route for International Peace and Prosperity (TRIPP) project is positively perceived by the market, Armenian Central Bank Governor Martin Galstyan told reporters on Tuesday.
“We have to look at the overall project,” he said, when asked about Washington’s decision to provide Armenia with a first tranche of $145 million under the agreements. He noted that the amount provided in the first tranche is too small to have a significant impact on the overall economy.
“We need to understand what is going to happen, and how those funds will be spent. But overall, such an initiative is positively perceived by the market, in the sense that in the future there could be certain developments regarding unblocking [of regional routes], and that the peace agreement could reach its logical conclusion — which would also significantly improve the business environment,” Galstyan said.
The Trump Route for International Peace and Prosperity is a connectivity project in Armenia envisaged under the U.S.-brokered Armenian-Azerbaijani joint declaration signed in Washington, D.C.
The project is expected to unlock strategic economic opportunities that will create long term benefits by promoting infrastructure investment and enhancing regional connectivity.