A proposed $300 billion private-sector investment initiative tied to the emerging U.S.-Iran framework agreement has already secured commitments exceeding half its target, signaling growing interest in a potential economic opening for Iran, a source familiar with the matter said.
The fund is designed to give both sides an economic incentive to conclude a final deal, 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.
U.S. and Iranian officials said on Sunday they had agreed on a framework to end their war, which began when U.S. and Israeli forces attacked Iran on Feb. 28, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, a key supply route for global oil and gas.
The new fund is a private investment vehicle, not a reconstruction or reparations program 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.
Investments pledged span energy, logistics, manufacturing and transport, the source said.
