FinancialJuice: Trump administration proposes $5 bln to kickstart investment fund to rebuild Gulf energy sites, according to sources and documents - WSJ

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The Trump administration has proposed investing $5 billion in a new fund that would help Middle East countries rebuild energy infrastructure battered in the Iran war and reduce their reliance on the Strait of Hormuz to transport oil and gas, according to U.S. and Middle Eastern officials and documents seen by The Wall Street Journal.The move is a tacit acknowledgment that the seven-month conflict has roiled the global energy market and destroyed regional pipelines and refineries that will be costly to rebuild.Under Trump’s plan, the U.S. would seek a matching contribution from eight Middle Eastern partners—Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait, Oman, Iraq and Jordan—with the goal of generating a $10 billion investment fund. The investment would be called the Partnership for Allied Trust and Construction, or Pact.