A private fund of 300 billion dollars (258.485 million euros, at current exchange rates), designed to stimulate investment in Iran, is foreseen in the agreement to be signed between Washington and Tehran, and more than half of that amount has already been committed, a source familiar with the agreement told Reuters.
The fund is intended to give both parties an economic incentive to conclude a definitive agreement, said the same source, who spoke on condition of anonymity because the plan has not yet been announced. You United States and Iran They are now preparing for the signing of the document, scheduled for Friday, June 19, in Geneva.
North American and Iranian authorities confirmed last Sunday that they had finalized the text of the memorandum of understanding to put an end to the war between the two countries, triggered by the attacks by US and Israeli forces on Iran, on February 28. They also agreed to the immediate lifting of the naval blockade imposed by the US on Iran and to the reopening of Strait of Hormuza fundamental route for the global transport and supply of oil and gas.
The new fund is a private investment mechanism — not a reconstruction or compensation program — and will not include any public funds or subsidies, the source said, adding that companies based in the US, Gulf Arab States, Asia, South America and Africa have committed to financing the project.
The promised investments cover the energy, logistics, manufacturing and transport sectors.
On the Iranian side, a source with high responsibilities, who also chose to remain anonymous, told Reuters that Tehran had initially requested 400 billion dollars (close to 345 billion euros) from the United States, as compensation for the damage caused by warbut that Washington rejected this amount.
It was then that the idea for the fund emerged, which should be called the Reconstruction and Development Fund.
Loans, lines of credit and reconstruction
The mechanism envisages that countries in the region contribute in various ways, he began by explaining the Iranian source. These include guaranteeing loans, creating lines of credit or directly financing the reconstruction of war-damaged sites, such as the Mobarakeh steel complex, refineries, airports and, in general, infrastructure affected by the conflict.
Iran, one of the largest economies in the Middle East, has attracted almost no significant foreign direct investment over the past four decades, having been excluded from global capital markets by successive sanctions imposed by the US and the international community.
The country has the second largest proven natural gas reserves in the world and the fourth largest proven oil reserves. It also has a young and qualified population of more than 92 million people, a diversified industrial base and significant potential yet to be explored in sectors ranging from petrochemicals and mining to tourism and agriculture.
The investment fund is completely independent of a parallel negotiation route on the lifting of US sanctions and the release of assets Iranian sovereigns frozen abroad, says the source cited by Reuters, describing both as distinct financial mechanisms, with different objectives and deadlines.
The fund will not be created or come into operation until a final agreement deemed satisfactory is reached. The memorandum of understanding, once signed, is intended to structure the process over the next 60 days.
“It will only be created once the final agreement is signed,” said the source. “During these 60 days, the fund administrators will work with Iranians and investors to plan and define the scope of the projects.”
Neither Iran’s Ministry of Foreign Affairs nor Pakistan’s Ministry of Foreign Affairs, which helped mediate the agreement regarding the investment fund, immediately responded to Reuters’ requests for clarification.
From the White House, a spokeswoman referred to an interview given on Monday by Vice President JD Vance to CBS, in which he stated that Iran could have access to a $300 billion reconstruction fund supported by the Gulf States, if it complies with an agreement with Washington, including the dismantling of its nuclear program, the elimination of its enriched uranium reserves and the acceptance of a strict inspection and oversight regime.
The source refused to reveal how the fund will be administered or by whom, stressing that the essential details were yet to be defined.
It also cited companies from South Korea, Japan, Singapore, Malaysia and the United States among those that made financing commitments, but declined to provide a complete list.
The 60-day memorandum constitutes a framework, not a definitive agreement. US and Iranian negotiators are expected to work on several fronts during this period, covering the issue of the nuclear program, sanctions and the security of the region.
