A $300 billion private fund designed to trigger investment into Iran is outlined in the U.S.-Iran framework agreement and more than half that sum has already been committed.
Axar.az informs, citing Reuters, the fund is designed to give both sides an economic incentive to conclude a final deal to end the war, said the source, who spoke on condition of anonymity because the plan has not yet been announced as Washington and Tehran prepare to sign on Friday.
The new fund is a private investment vehicle, not a reconstruction or reparations programme and will not include any government money or grants, the source said, adding that companies based in the U.S., the Gulf Arab states, Asia, South America and Africa have agreed to commit financing.
U.S. President Donald Trump pushed back on Wednesday against any characterisation of the fund as a U.S. investment. "We're not investing, we're not putting up 10 cents," he said, adding that he was not asking Gulf countries to invest either.
"I would say they won't be doing it for a while until they find out the behaviour. It's a behaviour thing, but we are not investing,” he said on the sidelines of the G7 Summit in France.
A White House spokeswoman had earlier pointed to a CBS interview with Vice President JD Vance in which he said Iran could gain access to a $300 billion reconstruction fund backed by Gulf states if it complies with the agreement.
Source: en.axar.az
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