Media: Trump donor appointed to lead $200 million US investment fund for Armenia

A major donor to US President Donald Trump has been appointed to chair a new State Department-backed enterprise fund overseeing more than $200 million in investments aimed at developing a strategic trade corridor through Armenia and the wider South Caucasus.

Konstantin Sokolov, a Russian-born private equity investor based in Chicago, will lead the Tripp+ Enterprise Fund, which is authorised to provide loans, equity investments and grants for projects in transport, energy infrastructure and critical minerals across Armenia, Azerbaijan, Georgia and several Central Asian countries. The US State Department confirmed his appointment.

The Guardian reported that Sokolov was among the donors who contributed to Trump's ballroom project. While the amount of his donation has not been disclosed, campaign finance records show he has donated more than $12 million to Republican campaigns and political groups during Trump's second term, including $11 million to the president's super PAC.

The Tripp+ fund is linked to the Trump Route for International Peace and Prosperity (TRIPP), a proposed trade corridor connecting southern Armenia with Azerbaijan and beyond. US officials have described the initiative as a key element of Washington's strategy to expand trade, transport and energy links between Europe and Asia following last year's Armenia-Azerbaijan peace agreement.

Sokolov has no previous government experience but has spent more than two decades investing in infrastructure, telecommunications and energy projects. He also holds business interests in Armenia, including a major stake in the country's largest telecommunications company, Viva Armenia.

The State Department said the fund would be subject to annual reporting, independent audits and conflict-of-interest safeguards.

Foreign assistance experts told The Guardian that politically connected figures have often been appointed to oversee US enterprise funds, provided they possess relevant investment expertise. They said the key issue is ensuring board members cannot personally benefit from investment decisions.

By Aghakazim Guliyev