Trump administration proposes $5bn to kickstart investment fund to rebuild Gulf energy sites, WSJ reports

The Trump administration has proposed investing $5bn in a new fund to 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, the Wall Street Journal reported Monday, citing US and Middle Eastern officials and documents.

The report said the US plan seeks matching contributions from eight Middle Eastern partners: Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait, Oman, Iraq, and Jordan, adding that the talks about the fund are ongoing