Rubio: The US has allocated $201 million to stimulate private investment in the South Caucasus

The United States government has allocated $201 million to fund the Trans-Caspian Enterprise Fund, whose activities are aimed at stimulating private sector investment in the South Caucasus.

This was stated in a written statement by U.S. Secretary of State Marco Rubio.

"Today I am pleased to announce that the Trans-Caspian Enterprise Fund has begun its operations under the leadership of a newly elected board of directors and with $201 million in capital allocated by the U.S. government to stimulate private sector investment along the Trans-Caspian trade route (Middle Corridor) in the South Caucasus and Central Asia," said the head of American diplomacy.

He recalled that exactly one year ago, following a trilateral meeting with U.S. President Donald Trump in Washington, President of Azerbaijan Ilham Aliyev and Prime Minister of Armenia Nikol Pashinyan signed a joint declaration on a peaceful settlement between Baku and Yerevan and the establishment of a transport communication between the main part of Azerbaijan and the Nakhchivan Autonomous Republic. This project was named the "Trump Route for International Peace and Prosperity" (TRIPP). It envisions the modernization of railway, road, energy, and digital infrastructure.