Qatar Describes Proposed Rp5.3 Quadrillion Iran Reconstruction Fund as Aspirational

Istanbul - Qatar’s Prime Minister and Foreign Minister, Sheikh Mohammed bin Abdulrahman Al Thani, has described a proposed $300 billion (approximately Rp5.3 quadrillion) investment fund for Iran as aspirational. In an interview with the Financial Times published on Wednesday, he indicated that Gulf states could play a role in the funding if Iran reaches a final agreement with the US. “The $300 billion figure, which has been set for the proposed investment fund for Iran, is an aspirational figure,” Sheikh Mohammed said. He noted that part of the efforts by countries in the region is to create a regional security framework with Iran. “It is hoped that this will lead to future economic cooperation among us all to restore stability in the region,” he added. However, the Qatari foreign minister did not clarify whether his country would participate financially. “Our goal is for Iran to develop and its economy to grow, and our investments are fundamentally always based on purely commercial decisions,” he stated. The proposed funding mechanism is linked to Point 6 of the Islamabad Memorandum of Understanding between the US and Iran aimed at ending regional hostilities. The understanding also states that the implementation mechanism for the plan will be finalised as part of a final agreement within 60 days, with the US providing all necessary approvals, exemptions, and licences for related financial transactions. Provisions of the agreement include the lifting of the US naval blockade against Iran and the reopening of the strategic Strait of Hormuz for global energy supplies.