AZE.US
The United States has provided $201 million in government funding for a new investment fund supporting the Middle Corridor, including projects connected to the Trump Route for International Peace and Prosperity, or TRIPP.
The Trans-Caspian Enterprise Fund is now operational under a newly elected board of directors, US Secretary of State Marco Rubio announced on the first anniversary of the Azerbaijan-Armenia peace summit at the White House.
The fund is intended to attract private investment across the Trans-Caspian Trade Route, commonly known as the Middle Corridor, in the South Caucasus and Central Asia.
The entire $201 million is not earmarked exclusively for the construction of TRIPP. Instead, the funding will support a broader regional investment portfolio in which the planned route through Armenia will serve as an important link.
“TRIPP is more than an infrastructure project – it is a vital link in the Trans-Caspian Trade Route, a driver of commercial opportunities for the United States and others, and a model for how economic cooperation can cement peace following the resolution of long-standing disputes,” Rubio said in a State Department statement.
TRIPP Moves Toward Implementation
TRIPP is envisioned as a multimodal transit route combining railway, road, energy and digital infrastructure.
Engineering surveys for the railway section in Armenia are already underway. Azerbaijan, meanwhile, has nearly completed the highway and railway infrastructure on its territory that will connect with the planned Armenian section.
Washington and Yerevan have also agreed to establish the TRIPP Development Company, which will lead infrastructure development. Azerbaijan, Armenia and the United States have expressed support for constructing an electricity transmission line along the route.
“Over the past twelve months, the United States has worked side-by-side with Armenia and Azerbaijan to turn that promise into progress,” Rubio said.
According to the secretary of state, peace between Baku and Yerevan has opened the way for stronger economic relations among Azerbaijan, Armenia and the United States.
TRIPP is expected to connect mainland Azerbaijan with its Nakhchivan exclave through southern Armenia while operating under Armenian sovereignty and jurisdiction.
It would also strengthen the Middle Corridor linking Central Asia and the South Caucasus with Turkey and European markets.
Funding Remains at $201 Million
Regional media recently reported that US funding had increased from $201 million to $402 million, citing data published on the federal government’s spending platform.
Aryeh Lightstone, senior adviser to the US special envoy for peace missions, rejected those reports and confirmed that the committed amount remains $201 million.
“In terms of the money, right now $201 million has been committed,” Lightstone told CivilNet, adding that the money would be invested in TRIPP and associated projects.
He described the current amount as a “floor, not a ceiling,” indicating that additional financing could be provided as the project develops.
AZE.US