U.S. President Donald Trump’s Board of Peace has no cash in its official Gaza reconstruction fund, a source familiar with the board told AFP on May 27, despite member countries pledging billions of dollars.
Trump first conceived of the board to rebuild Gaza, where Israel and Hamas agreed to a U.S. -backed ceasefire in October 2025 in a bid to halt two years of devastating war.
Since the board was set up, its fund, administered by the World Bank and endorsed by the United Nations , as received no money from donors, the source familiar with the Board of Peace told AFP.
The source said money had not been deposited because the fund was designed for the reconstruction and development phase, which has not yet been reached.
Earlier on May 27, the Financial Times reported that the board had received donations directly into a JPMorgan account, citing the board’s spokesperson.
There are no “independent transparency requirements” in place for the JPMorgan account, the FT noted.
In a social media post, the Board of Peace said the World Bank-administered fund was “just one of many funding mechanisms that to date has not been utilized by the donor community.”
The post added that the Board was being funded “through other mechanisms.”
Trump previously said that the United States would contribute $10 billion to the board, while Qatar, Saudi Arabia and the United Arab Emirates each promised at least $1 billion.
Members of the board are required to pay $1 billion for a permanent spot, according to its charter.
An EU-UN assessment published in April estimated that more than $71 billion will be needed over the next decade.
