Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani described a proposed $300 billion investment fund for Iran as an “aspirational number” on Wednesday.

In an interview with the Financial Times published on Wednesday, he indicated that Gulf states could play a role in financing it if Tehran reaches a final settlement with the US.

“The figure of $300 billion that has been slated for a proposed Iran investment fund is an aspirational number,” Sheikh Mohammed added.

According to the report, the Trump administration has suggested that Gulf states could finance the fund, which would initially serve as a vehicle for companies to invest in Iran.

Read: Trump slams US Senate for ‘poorly timed’ Iran war powers vote, calling it ‘meaningless’

He, however, did not clarify whether Qatar would participate financially.

“Our aim is that Iran flourishes and their economy grows; and our investment basically has always been purely on commercial decisions,” he noted.

The proposed funding mechanism is linked to Article 6 of the Islamabad Memorandum of Understanding between the US and Iran aimed at ending regional hostilities.

Under the provision, the US commits, together with its regional partners, to establish a final agreed program worth at least $300 billion for Iran’s reconstruction and economic development.

The memorandum states that the implementation mechanism for the plan will be finalised as part of a final agreement within 60 days, while the US would provide all necessary approvals, waivers and licenses for related financial transactions.