Reuters quoted an informed source as saying that the framework agreement between the United States and Iran includes a $300 billion special fund to stimulate investment, with more than half of this amount already pledged.
The source, who is familiar with the agreement and requested anonymity because the plan has not yet been announced as Washington and Tehran prepare to sign on Friday, noted that the fund is designed to give both sides an economic incentive to conclude a final agreement to end the war.
While it was previously reported that the fund exists, what is new is the revelation that more than half of the amount has been pledged and that it will consist entirely of private sector funds.
The source said that the new fund is a private investment tool, not a reconstruction or compensation program, and will not include any government funds or grants, adding that companies based in the United States, the Arab Gulf states, Asia, South America, and Africa have agreed to commit to financing the energy, logistics, manufacturing, and transportation sectors.
A high-ranking Iranian source told Reuters that Tehran initially requested $400 billion in compensation for war damage from the United States, but Washington said it would not provide that amount. Then the idea of a fund emerged, to be called the Reconstruction and Development Fund.
The Iranian source added that the mechanism includes the contribution of countries in the region in various ways, including obtaining loans, establishing credit lines, or directly financing the reconstruction of sites damaged in the war, including facilities such as the Mubarakah Steel Complex, oil refineries, airports, and infrastructure damaged by the war on a broader scale.
Strait of Hormuz. [Getty]
