Nearly five months after President Donald Trump announced the creation of a Board of Peace to oversee post-war rebuilding and security efforts in Gaza, a new report said the organization’s main official funding mechanism still has no money in it.
The Financial Times reported the World Bank-administered fund created for the board has not received any deposits from donors. The paper cited four people familiar with the matter, including one who said “zero dollars have been deposited.”
When Trump introduced the Board of Peace in January, member nations pledged roughly $7 billion toward Gaza relief efforts, while Trump promised an additional $10 billion in U.S. support.
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Money has moved through other channels
However, the lack of deposits into the World Bank fund does not necessarily mean no money has been committed or spent elsewhere.
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Initially, at least 27 countries became members of the Board of Peace in early 2026.
According to the report, the board has also accepted funding through a JPMorgan account rather than the World Bank structure. The Financial Times said Morocco’s roughly $20 million contribution has helped support operations, including staffing costs, while the United Arab Emirates provided $100 million for a proposed Gaza police training program that has since been frozen.
A Board of Peace official told the newspaper that multiple funding paths had been established and that contributors had “opted to use other options.”
But unlike the World Bank fund, which would have formal reporting requirements for contributors and board members, the JPMorgan account does not operate under independent transparency requirements, according to the report.
Reconstruction work has not started
The board has begun planning reconstruction and security projects, but no contracts have been awarded.
The Financial Times also reported that approximately $1.2 billion in State Department aid spending tied to the board’s broader objectives has not been distributed. That funding would not go directly to the Board of Peace itself.
A congressional aide told the paper the board would not receive U.S. funds until financial controls and oversight mechanisms are established.
The State Department said it continues to support Trump’s broader vision for the Board of Peace and is reviewing how existing programs and coordination efforts could support those goals.
