Excerpt From Blog Post:TEHRAN (FNA)- Iranian Foreign Minister Manouchehr Mottaki announced on Monday that Tehran is working on a draft agreement on the establishment of a joint investment fund for the Eight Developing Islamic Countries Group (D8) Reminding a proposal which was put forward by Iran at the D8 summit in Kuala Lumpur in 2008 for establishing the fund, Mottaki said during his speech at the 12th ministerial meeting of the D8 group in Kuala Lumpur on Monday, "We are drafting a Memorandum of Understanding for setting up the fund."
The D8 Group is comprises of eight developing Islamic countries, namely Iran, Turkey, Pakistan, Bangladesh, Indonesia, Malaysia, Egypt and Nigeria.
Mottaki called on the member states to supply the necessary financial resources and capital for the joint investment fund in a bid to bring it into operation.
Tehran plans to allocate $20 million for the fund, Mottaki announced and...
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