DFC supports creation of TRIPP development company in Armenia

The US International Development Finance Corporation (DFC) Board of Directors has approved a package of strategic investments worth $2.5 billion, including support for establishing the Trump Route for International Peace and Prosperity (TRIPP) Development Company.

The DFC said the new joint venture between the United States and Armenia is aimed at promoting trade, transport connectivity, and economic development, while strengthening international, regional, and domestic transportation links, Caliber.Az reports, citing the DFC.

The initiative follows the landmark peace declaration between Armenia and Azerbaijan and the signing of the Trump Route for International Peace and Prosperity (TRIPP) Framework Agreement, which is designed to facilitate major infrastructure projects, including railways, highways, pipelines, fibre-optic networks, and related facilities.

"These deals exemplify the shift in DFC's strategy. The investments approved in today’s successful board meeting will develop critical infrastructure in Southeast Asia, increase U.S. access to critical minerals, and build the flagship Trump Route for International Peace and Prosperity (TRIPP) Development Company to further peace," DFC CEO Ben Black noted.

According to him, DFC is acting with the creativity and confidence worthy of a best-in-class financial institution.

"Once more, American Prosperity is underwriting a new era of strength, growth, and goodwill for America’s partners,” he added.

Under the ownership structure of the TRIPP Development Company, the US side will hold a 74% stake, while Armenia will own the remaining 26%.

By Bakhtiyar Abbasov