U.S. doubles funding for the TRIPP+ fund

U.S. authorities have increased the amount of funding for the TRIPP+ investment fund from $201 million to $402 million.

This is indicated by data from the American portal HigherGov, which tracks government grants.

The fund was established earlier this year — on January 26, two weeks after the Washington meeting between Armenian Foreign Minister Ararat Mirzoyan and U.S. Secretary of State Marco Rubio. Following that meeting, the diplomats published a document from which it became clear that the parties would create a company ensuring the development and implementation of the infrastructure of the TRIPP route passing through southern Armenia — the TRIPP Development Company.

26% of its shares will belong to the Republic of Armenia, and 74% to the United States, more precisely to TRIPP Development Company US, which will be established in the American state of Delaware.

In that same state of Delaware, the TRIPP+ fund (TRIPP+ Enterprise Fund) was established on January 26, headed by businessman Konstantin Sokolov, who supports the current Republican authorities of the United States and, in particular, Trump.

According to the same source, on July 16 an amendment was made, and the U.S. government committed to providing the TRIPP+ enterprise fund with a grant in the amount of $402 million. The sum is to be disbursed over almost 11 years — until December 31, 2036.

Source: news.am