President Donald Trump’s Board of Peace has not received donor money in its official World Bank-administered Gaza reconstruction fund four months after launch, according to a Financial Times report.
By yourNEWS Media Newsroom
President Donald Trump’s Board of Peace, created to oversee Gaza reconstruction and humanitarian work after the Israel-Hamas war, is facing questions over funding, oversight and legal authority after a report said its official World Bank-administered reconstruction fund remains empty.
Four months after the fund was launched, donors have contributed “zero dollars” to the official account, the Financial Times reported. The lack of money in the World Bank fund comes despite billions of dollars in pledges from countries that joined Trump’s Gaza rebuilding initiative.
Instead of flowing through the official fund, contributions have reportedly moved through a private JPMorgan account overseen by the organization. That arrangement has raised concerns among lawmakers and foreign governments about transparency, financial controls and how reconstruction money will ultimately be managed.
Trump announced the Board of Peace earlier this year as part of a broader effort to end the Israel-Hamas war, rebuild Gaza and move away from international systems that conservatives have criticized as ineffective. The president described the initiative as one of the “most consequential” global organizations ever created.
The plan called for participating countries to pledge billions of dollars toward Gaza’s reconstruction. Trump also promised $10 billion in U.S. support.
But the board has struggled to turn pledges into cash. Reuters reported in April that the organization had received only a small portion of the more than $17 billion pledged by participating nations. Last month, Reuters reported that the board urged member countries to convert their pledges into actual contributions, warning that the funding shortfall could threaten reconstruction efforts.
The funding delays come as postwar Gaza remains unstable. Hamas has refused to disarm despite U.S.-brokered ceasefire efforts, and Israeli forces continue operating in parts of the enclave. Those conditions have complicated the board’s ability to begin work on the ground.
According to the Financial Times, no major reconstruction contracts have been awarded because the board has not yet begun operating inside Gaza.
“We’re not operating in Gaza yet,” a board spokesperson said.
The Trump administration has defended the Board of Peace as a practical alternative to years of U.N.-led management in the region. Officials have argued that the initiative can combine security, infrastructure planning and economic development in a more effective reconstruction model.
Secretary of State Marco Rubio told Congress the board would eventually operate under strict financial controls before receiving direct U.S. taxpayer funding.
The initiative has also been tied to a broader redevelopment vision promoted by Trump’s son-in-law, Jared Kushner. That plan includes modern infrastructure, advanced logistics hubs and AI-powered urban planning for Gaza.
In April, the Financial Times reported that representatives of the Board of Peace had held discussions with Dubai-based logistics company DP World about managing aid supply chains, warehousing and the possible development of a new regional port.
Despite those ambitions, legal questions remain unresolved. Some lawmakers have questioned whether the Board of Peace qualifies as an international organization eligible to receive U.S. funds. Critics have also said the administration has not provided enough detail about the board’s legal structure, spending plans or oversight mechanisms.
Supporters of the project argue that Trump’s approach offers the first serious attempt in years to replace what they view as failed Middle East bureaucracy with a reconstruction model focused on security, stability and economic growth.
For now, however, the board’s official reconstruction fund remains empty, its Gaza operations have not begun, and participating governments have not delivered the cash needed to move from planning to rebuilding.