Secretary of State Marco Rubio and Armenian Foreign Minister Ararat Mirzoyan signed the Tripp economic and security agreement in late May, with Mirzoyan stating it lays "groundwork for the sort of economic engagement that allows Armenians to make money and find prosperity and Americans to do the same."
Sokolov holds a major shareholding in Armenia's largest telecommunications firm, Viva Armenia, and positions with the Northern Pillar Energy Consortium, Pelagos Data Centres, and founded IJS Investments and Gotthard Investment AG.
A State Department spokesperson affirmed that the fund will abide by statutory requirements, including annual reporting, independent audits, and conflict of interest guidelines.
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Former USAID and foreign assistance experts noted that presidential administrations commonly select the boards of US enterprise funds, often appointing individuals with relevant cultural or business ties.
Don Niss, a former program officer for US enterprise funds in Eastern Europe, commented, "It's not unreasonable for politically connected people to get involved.
It's an issue when those politically connected people don't have expertise in investment banking, private equity or industries related to the types of investments they'll be making."
Sokolov brings more than 20 years of investment experience in multinational infrastructure and telecommunications projects to the role.
A second former USAID administrator commented on whether political donors running these funds could personally benefit from board decisions: "The question is, does he have the ability to personally benefit from investment decisions?
