Trump’s ‘Board of Peace’ fund has zero deposits despite billion-dollar pledges: Report
&imwidth=600&imheight=450&format=webp&quality=medium "Trump’s ‘Board of Peace’ fund has zero deposits despite billion-dollar pledges: Report")
US President Donald Trump holds a gavel during a signing ceremony at the inaugural meeting of the "Board of Peace" at the US Institute of Peace in Washington, DC, on February 19, 2026. Photograph: (AFP)
Trump had earlier said the United States would contribute $10 billion to the reconstruction effort, while Qatar, Saudi Arabia and the UAE had each pledged at least $1 billion. Under the board’s charter, members are required to pay $1 billion for permanent participation.
US President Donald Trump’s “Board of Peace”, created to oversee the reconstruction of Gaza, has not received any funds despite commitments of billions of dollars from member countries, the Financial Times reported on Wednesday (May 27).
The board was first envisioned by Trump as part of a US-backed initiative following a ceasefire agreement between Israel and Hamas in October, aimed at ending two years of intense conflict in the region and initiating rebuilding efforts in Gaza.
However, the initiative drew attention early on for its unusually broad membership invitations, which included Russian President Vladimir Putin and several countries not traditionally involved in Middle East peace or reconstruction diplomacy.
Since its establishment in January, the fund linked to the board, managed through the World Bank and supported by the United Nations, has not received any direct donor contributions, the Financial Times reported, citing four unnamed sources familiar with the development.
“Zero dollars have been deposited,” one of the sources was quoted as saying by the FT.
At the same time, the report noted that the board has received some financial contributions directly into a JPMorgan Chase account, as confirmed by the board’s spokesperson.
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Several major European nations have stayed away from the initiative, which largely includes long-standing US allies in the Middle East, ideological supporters of Trump, and smaller countries seeking closer ties with his administration. France and Britain have notably declined to participate.
The board is structured to place the United States at the centre, with Trump retaining ultimate authority over decisions. Reports also suggest that he could continue to lead the body even beyond his presidential term.
Earlier, Trump had stated that the United States would contribute $10 billion to the reconstruction effort, while Qatar, Saudi Arabia, and the United Arab Emirates had each pledged at least $1 billion. Under the board’s charter, members are expected to contribute $1 billion for permanent participation.
An assessment by the European Union and the United Nations in April estimated that Gaza would require more than $71 billion over the next decade for reconstruction following the widespread destruction caused by the conflict.
Despite the ceasefire announced in October, the situation on the ground in Gaza remains unstable, with continued reports of violence. Both Israeli forces and Hamas have accused each other of violating the truce, keeping tensions in the region high.
