Gaza Reconstruction in Doubt as Trump’s ‘Board of Peace’ Fund Remains Empty

Questions are growing over the future of Gaza’s reconstruction after reports revealed that the “Board of Peace,” established by US President Donald Trump to oversee rebuilding efforts, has yet to receive any funds nearly five months after its formation.

According to a report by the Financial Times, no donor country has deposited money into the World Bank-managed and United Nations-backed reconstruction fund since the board was established in January this year.

The initiative was launched following the ceasefire agreement reached between Israel and Hamas after months of devastating conflict in Gaza. Under the board’s draft charter, its initial mission was to focus on Gaza’s reconstruction, with plans to later expand its role to address other international conflicts.

From the beginning, however, the initiative attracted controversy due to discussions about involving countries outside the Middle East, including potential participation by Russian President Vladimir Putin.

“Zero Dollars” in the Fund

Citing four sources familiar with the matter, the Financial Times reported that “zero dollars” had been deposited into the official reconstruction fund since its creation.

A spokesperson for the Board of Peace disputed that claim, saying donations had instead been transferred directly into an account at JPMorgan Chase. However, the Financial Times noted that it had no independent way to verify the bank account information.

The report added that the arrangement appeared unusual because the original framework specified that contributions would go into the World Bank-administered and UN-supported fund.

European Powers Keep Their Distance

Several smaller countries closely aligned with the United States and eager to strengthen ties with Trump reportedly joined the initiative. However, major European powers have largely avoided participation.

Both France and United Kingdom reportedly declined to join the board from the outset.

According to the board’s charter, the organization is not overseen directly by the US government but rather operates under Trump’s personal leadership. The charter reportedly grants Trump final authority over all board decisions and allows him to remain in charge even after his presidential term ends.

The charter also requires countries seeking permanent membership to contribute at least $1 billion.

Promised Billions Yet to Materialize

Trump had previously announced that the United States would contribute $10 billion to the initiative. In addition, Qatar, Saudi Arabia, and United Arab Emirates reportedly pledged at least $1 billion each.

Despite those announcements, no publicly confirmed contributions have yet appeared in the official fund.

Meanwhile, a joint assessment released in April by the European Union and the United Nations estimated that rebuilding war-torn Gaza would require more than $71 billion over the next decade.

Ongoing Violence Clouds Reconstruction Efforts

Although a ceasefire agreement was reached last October, violence continues across Gaza. The Israeli military and Hamas continue accusing each other of violating the truce, while Israeli airstrikes have reportedly persisted in parts of the territory.

Analysts say that without stable security conditions, international coordination, and transparent funding mechanisms, meaningful reconstruction efforts may remain difficult to implement.

The lack of financing for the Board of Peace has therefore raised broader questions about whether large-scale reconstruction in Gaza is realistically achievable under current political and security conditions.