The United States and Armenia are creating a joint venture to develop TRIPP.
The Board of Directors of the U.S. International Development Finance Corporation approved the creation of a joint U.S.-Armenia venture, TRIPP Development Company. The project is part of a $2.5 billion strategic investment package.
As reported by Caucasian Knot, on May 26, 2026, in Yerevan, US Secretary of State Marco Rubio and Armenian Foreign Minister Ararat Mirzoyan signed the Charter on Strategic Partnership, Expanding US-Armenian Cooperation, and Support for the TRIPP Project.
The Trump Route for International Peace and Prosperity Project (TRIPP) project envisions the creation of a transport link between Azerbaijan and its exclave, the Nakhchivan Autonomous Republic, through Armenia and will be managed by an American consortium. Rubio's visit to Yerevan included the initialing of a framework agreement on a transport corridor and a memorandum of cooperation on critical minerals.
TRIPP Development Company will promote trade, transport, and economic development, as well as expand international, interstate, and domestic transport connectivity, Armeniatoday reports.
According to the corporation, the company will support the implementation of key infrastructure projects, including the construction and modernization of railways and highways, pipelines, fiber-optic networks, and other facilities. The project also aims to strengthen peace through economic cooperation.
"These investment decisions are consistent with the strategic goals of the United States and are aimed at deepening long-term cooperation with partner countries," the publication quotes the corporation's CEO, Ben Black, as saying.
The project is part of a $2.5 billion investment package that also includes projects in energy, infrastructure, and mining.
Earlier, Armenian Foreign Minister Ararat Mirzoyan signed a framework agreement for the project. The minister himself announced this on his Facebook page*.
According to the draft, 74% of the company's shares will be owned by an entity created by the US government, and 26% by Armenia. The company will receive broad powers to implement and manage the project. The initial term of the agreement will be 49 years, with the possibility of further extension.
The document also emphasizes that Armenia retains sovereignty, territorial integrity, and jurisdiction over all TRIPP implementation areas. Under the agreement, border control, customs functions, law enforcement, and security will remain under the jurisdiction of Armenian state bodies. The document also provides for a number of tax and investment incentives for the company and its subsidiaries. Furthermore, the agreement provides for US support in attracting funding, modernizing border infrastructure, and implementing the project.
The "Caucasian Knot" also reported that during the election campaign, Prime Minister Pashinyan made defending the TRIPP project a separate focus. Pashinyan emphasized that Armenia retains full jurisdiction, sovereignty, and territorial integrity over all areas where the project is being implemented.