NEW YORK, June 17. /TASS/. A framework agreement between the United States and Iran provides for the creation of a $300 bln private investment fund, with more than half of that amount already secured through investor commitments, Reuters reported.
According to the agency, the fund is intended to serve as an economic incentive for the signing of a final agreement between the two sides. The report noted that the financial mechanism does not involve government financing or grants, with funding to be provided by the private sector. Investors include companies from the United States, the Persian Gulf countries, Asia, South America, and Africa, the publication said.
According to a Reuters source, the fund will begin operating only after a final agreement is signed. The signing of a memorandum of understanding is expected to establish the framework for the process over the next 60 days, during which fund administrators will work with the Iranian side and investors on project planning. Preliminary estimates indicate that investments will focus on energy, logistics, manufacturing, and transportation.
According to Reuters, Tehran initially demanded $400 bln from Washington as compensation for war-related damage but was rebuffed. As a result, the parties agreed on a mechanism under which countries in the region would be able to participate through credit lines or direct financing for the reconstruction of Iranian infrastructure.
