ArmInfo. It is too early to say what impact the implementation of the TRIPP project will have on Armenia's state budget. This was stated by RA Minister of Finance Vahe Hovhannisyan during government hour in the National Assembly on October 28, responding to a question from MP Anush Mirzoyan, a member of parliament from the opposition Strong Armenia faction.
The MP specifically inquired about the funding for the land acquisition process needed for the construction of the railway and energy communications within the TRIPP project.
In response, the Minister of Finance noted that the impact on the state budget can only be discussed once the budget application is submitted. This application is reflected in the state budget, discussed in parliament, and decisions are made on it. "As of the current situation, I don't know if there are any proposals for land privatization, but based on practice, I can say that funds allocated for land acquisition constitute a very small portion and cannot have a significant impact on the economic feasibility," the Finance Minister said.
He added that the route's direction is already known, but a number of technical issues remain to be resolved. The Finance Ministry has issued its opinion on the project and sees no problems with its implementation.
As a reminder, the TRIPP (Trump Route for International Peace and Prosperity) project is a transit and infrastructure project in the South Caucasus that envisions the creation of a multimodal corridor through Armenia's Syunik region. The route is approximately 43 km long through Armenia's Syunik region, connecting the mainland of Azerbaijan with Nakhichevan. The project includes the restoration and construction of roads and railways, oil and gas pipelines, and fiber-optic cables. A joint venture is being established to manage the project, with the American side holding 74% of the shares and Armenia 26% (for the first 49 years, with the option to extend for another 50 years if Armenia's share increases to 49%). The project includes US tranches and a special fund totaling $201 million.
