TRIPP financing includes a $201 million fund that Washington expects to use to attract private capital and reduce investor risk, as the United States also seeks broader defense and security cooperation with Azerbaijan.
Amy Carlon, the U.S. chargé d’affaires in Azerbaijan, announced the plans at the Second Azerbaijan International Investment Forum, according to Vesti Baku.
Carlon said the creation of a dedicated entity and the government investment demonstrated Washington’s long-term interest in the TRIPP route. She described the project as a tool for reducing geostrategic risk.
Loans, Guarantees and Risk Insurance
The U.S. International Development Finance Corporation and the Export-Import Bank of the United States could participate in the financing. The plan calls for loans, guarantees and risk insurance for U.S. companies during the early stages of projects.
Carlon said further cooperation with Baku would cover transport connectivity, investment, artificial-intelligence data centers, defense and security.
Azerbaijani Deputy Foreign Minister Elnur Mammadov said at the same forum that the two countries were preparing a framework agreement covering the supply, extraction and processing of critical minerals.
He said the practical agenda was developing under the Charter of Strategic Partnership and the bilateral economic dialogue. He cited a memorandum with Exxon on assessing, developing and extracting unconventional onshore oil reserves as one agreement already reached.