The United States has proposed investing $5 bln in a new fund that would help Middle East countries rebuild energy infrastructure, The Wall Street Journal (WSJ) reported.
It is also planned to use the new fund’s resources to create infrastructure that will help reducing dependence of supplies of oil and gas on the Strait of Hormuz, according to the report.
Under US President Donald Trump’s plan, eight of Washington’s regional partners, including Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait, Oman, Iraq, and Jordan, must contribute an amount matching the US investment to the fund, bringing its total size to $10 bln.
The parties are still discussing the details of the new fund, the newspaper said, adding that whether other countries will join it remains unclear.
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