An international body launched with fanfare by Donald Trump to oversee postwar reconstruction in Gaza has yet to receive a single dollar into its official aid fund, despite multibillion-dollar pledges from member states and the US president himself.
Billions pledged — but no money received
The official “Board of Peace” fund created under the auspices of the World Bank remains empty four months after its establishment, raising fresh questions over transparency, governance and the future of reconstruction efforts in Gaza.
According to a source familiar with the matter, not a single contribution has reached the council’s formally approved financial mechanism. “The account has received zero dollars,” the source told reporters.
The organisation, formally recognised as an international body in January 2026, was presented as the centrepiece of an ambitious postwar recovery plan for Gaza. During the World Economic Forum in Davos, Trump and leaders from 18 other countries signed the founding charter establishing the council.
Member states reportedly pledged a combined $7bn in assistance for Gaza, while Trump publicly promised an additional $10bn in US backing. Yet reconstruction projects have failed to materialise as the organisation has become mired in political uncertainty.
Donations routed outside official UN-backed mechanism
Concerns have also emerged over the handling of donations outside the official framework endorsed by the United Nations and administered by the World Bank. Instead of routing contributions through the designated international fund, the council’s leadership allegedly accepted donations directly into a private account held at JPMorgan Chase, which is not subject to the same public transparency requirements.
Millions spent on administration as projects stall
Funds already transferred appear to have been used for administrative and staffing costs rather than reconstruction on the ground. Morocco’s contribution of roughly $20m has reportedly financed the office of Nickolay Mladenov, the council’s “high representative” for postwar Gaza, as well as salaries for members of a Palestinian technocratic committee.
Meanwhile, a separate $100m contribution from the United Arab Emirates remains frozen. The money was intended to fund the training of Gaza police personnel, but the programme has yet to begin.
Since its high-profile launch earlier this year, the Trump-backed Peace Council has largely disappeared from public view, with little evidence of operational activity despite the scale of the promises attached to it.
