Shafaq News- Washington
The administration of US President Donald Trump has proposedestablishing a new fund to help Middle Eastern countries rebuild energyinfrastructure damaged during the war with Iran, The Wall Street Journalreported Monday.
Citing US and Middle Eastern officials and documents, thenewspaper said the proposed fund would invest $5 billion to repair the damageand reduce the region’s reliance on the Strait of Hormuz for oil and gasshipments.
According to the report, Washington is seeking matchingcontributions from eight Middle Eastern countries: Saudi Arabia, the UnitedArab Emirates, Qatar, Bahrain, Kuwait, Oman, Iraq and Jordan.
Combined contributions would create a $10 billion investmentfund, reportedly known as the “Partnership for Trust and AlliedReconstruction,” WSJ added. “US officials said discussions were ongoing, theterms of the arrangement could change, and participation by the other countrieshad yet to be finalized.”
Some Middle Eastern officials viewed the initiative as aneffort by Washington to demonstrate solidarity between theUnited States and its regional allies in confronting Iran. They also cautionedthat rebuilding damaged energy facilities without first reaching a peaceagreement with Tehran could be premature, given the possibility that Iran couldtarget newly rebuilt infrastructure with drones and missiles.
The proposed fund, the newspaper said, would be administeredby the Development Finance Corporation, a federal agency that works with theprivate sector to advance US national security and foreign policyobjectives.
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