Trump’s Gaza Board of Peace has no official funds as rebuilding plans stall – FT
President Donald Trump’s Board of Peace, created to rebuild war-ravaged Gaza, is reportedly operating with an official reconstruction fund that remains empty despite billions in international pledges.
The board’s World Bank-administered fund, created to oversee reconstruction and humanitarian efforts in Gaza, has received “zero dollars” from donors four months after launching, the Financial Times reported.
Instead, donations have flowed through a private JPMorgan account overseen by the organization, raising transparency and oversight concerns among lawmakers and foreign governments.
Trump unveiled the Board of Peace earlier this year as part of a broader strategy to end the Israel-Hamas war and rebuild Gaza while sidelining what conservatives see as ineffective international bureaucracies. He called it one of the “most consequential” global organizations ever created.
Member nations pledged billions for Gaza reconstruction, while Trump promised another $10 billion in U.S. support. But Reuters reported in April that the board had received only a small fraction of the more than $17 billion pledged.
The difficulties highlight the political and security challenges facing postwar Gaza. Hamas has refused to disarm despite U.S.-brokered ceasefire efforts, while Israeli forces continue operating in parts of the enclave.
The Financial Times reported that no major reconstruction contracts have been awarded because “we’re not operating in Gaza yet,” a spokesperson said.
Responding to the Financial Times’ report, the Board of Peace wrote on X: “This FT article tries desperately to sow doubt about the commitment of the US and partners to the Board of Peace. They cite just one of many funding mechanisms that to date has not been utilized by the donor community. They do, however, acknowledge that BoP is being funded through other mechanisms. In typical form, they included this in the top of the story but then proceeded with the narrative they wanted to push all along.”
The Trump administration says the project is a practical alternative to failed U.N.-led management. Secretary of State Marco Rubio told Congress the board would eventually operate under strict financial controls before receiving direct U.S. taxpayer funding.
