DFC approves $2.5B in investments, including for creation of TRIPP company

The US International Development Finance Corporation (DFC) Board of Directors has approved a series of new strategic investments totaling $2.5 billion, including support for the creation of the Trump Route for International Peace and Prosperity (TRIPP) Development Company, Report informs referring to the DFC.

The creation of the TRIPP Development Company, a joint venture between the United States and Armenia, is intended to support trade, transport, and economic development while enhancing international, inter-state, and intra-state transportation connectivity.

The venture builds on the landmark peace declaration between Armenia and Azerbaijan and the signing of the Trump Route for International Peace and Prosperity (TRIPP) Framework Agreement to support key infrastructure projects including railways, roads, pipelines, fiberoptics and more.

In the TRIPP Development Company, the American side will have a 74% share, and the Armenian side will have a 26% share.