Iran-US deal includes $300 billion investment fund, over half committed - Reuters
A $300 billion private investment fund designed to spur investment into Iran is outlined in the US-Iran framework agreement, with more than half of the sum already committed, Reuters reported on Tuesday, citing a source with direct knowledge of the deal.
The source said the fund was designed to give both sides an economic incentive to conclude a final deal, adding that it would contain no government money or grants.
The report said that companies based in the US, Persian Gulf states, Asia, South America and Africa had agreed to commit financing, with pledged investments spanning energy, logistics, manufacturing and transport.
A senior Iranian source told Reuters that Tehran had originally sought $400 billion in compensation for war damage from the US, but Washington said it would not provide it. The idea for the fund, to be named the Reconstruction and Development Fund, then emerged, the report said.
The Iranian source said regional countries could contribute by securing loans, establishing credit lines or directly financing reconstruction of sites damaged in the war, including the Mobarakeh Steel complex, refineries, airports and other infrastructure.
Reuters said the fund is separate from talks on lifting US sanctions and releasing frozen Iranian assets.
The fund will not be created or become operational until a final and satisfactory deal is signed, the source said. During the 60-day memorandum period, fund administrators will work with Iranian officials and investors to plan and scope projects, the report added.
