TRIPP: Armenian PM expects substantial U.S. investments

The United States has already allocated $140 million for the preparations of the TRIPP project, Prime Minister Nikol Pashinyan told reporters.

He was asked about the estimated U.S. investments in the project.

"As of now, as far as I know, $140 million has already been allocated [by the US] for the preparatory phase of the project," said Pashinyan. The Prime Minister added that the investments are obviously expected to be substantial. According to him, it is not possible to specify an exact figure at this time, as it depends on various calculations.

The Trump Route for International Peace and Prosperity (TRIPP) 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, create long-term benefits by promoting infrastructure investment, and enhance regional connectivity. TRIPP is part of the Crossroads of Peace project, and an Armenian-American joint enterprise is expected to develop the route.

The TRIPP Implementation Framework was published on Tuesday.

Armenia intends to authorize and facilitate the establishment of the TRIPP Development Company. The company is expected to be responsible for the development of the TRIPP and is expected to be granted the right to development for an initial term of 49 years. Armenia intends to offer the United States a 74% share and to hold itself a 26% share in the TRIPP Development Company. This arrangement is expected to be extended for an additional term of 50 years with a grant of additional equity to the government of Armenia bringing its share to 49%.