The official Peace Council fund, created at the initiative of US President Donald Trump for the reconstruction of Gaza, has not received a single dollar in the four months since the initiative was launched.
Points of attention
- Despite promises of significant contributions, the Trump Peace Council fund for Gaza reconstruction has not received any funds in the four months since its launch.
- The fund, created by the World Bank, remains empty, with no donations made to its official account, leading to legal and political uncertainties.
Trump Peace Council Fund didn't receive a single dollar
This is reported by the FT, citing its own sources.
It is noted that the initiative, which Trump called one of the "most important international organizations in history" in January, is currently in legal and political uncertainty.
Despite public statements by donor countries about their willingness to allocate significant funds (a total of about $17 billion — ed.), no real transactions were made to the fund's official account.
Four months after the Council began work, its financial fund, created by the World Bank, has not received any money from donors, according to four people familiar with the matter.
It is noted that some potential donors transferred funds to a separate account at JPMorgan, which does not have the proper level of transparency.
A Peace Council official stressed that “a number of options for obtaining funding have been identified,” including a World Bank mechanism, and that “donors have decided to pursue other options at this time.”
He added that the Peace Council will “report its financial performance” to its own executive board, which includes Trump administration officials and other advisers.
It is noted that contributions of about $3 million from Morocco and $20 million from the United Arab Emirates helped fund the office of the "high representative" in post-war Gaza, Nikolay Mladenov, and the salaries of the Palestinian Technocratic Committee, which the Council formed to govern the sector.
Two sources said the UAE also recently provided $100 million to train a new police force for Gaza, but the program has not yet begun and the funds are frozen.
It is noted that the US State Department intends to reallocate about $1.2 billion for the Council's daily activities and provide it with about $50 million to fund operations, but these funds have not yet been distributed.
A recent survey by the EU, UN and World Bank estimated that more than $70 billion will be needed to reconstruct Gaza over the next decade.
