US-Iran deal: Inside $300 billion reconstruction framework
The United States and Iran signed an agreement on Wednesday (Jun 17) to end the war in the Middle East, which had been going on for over three months.
US President Donald Trump gestures as he leaves the stage after a media conference at the end of the G7 summit in Evian-les-Bains, France (AP Photo) In a major development, the US-Iran agreement outlines a sweeping framework aimed at creating a “long-term reconstruction and economic development program for Iran” worth at least $300 billion.
The Memorandum of Understanding (MoU) notes that the framework to deploy these funds will be finalised within a 60-day window as a part of the final deal.
“The United States of America undertakes with regional partners to develop a definitive mutually agreed plan with at least $300 billion for the reconstruction and economic development of the Islamic Republic of Iran,” the deal said.
“The mechanism for the implementation of this plan will be finalised as part of a final deal within 60 days. All required licenses, waivers, and permissions needed for the relevant financial transactions will be granted by the United States of America,” it stated.
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