Ololade Adeyanju/
Donald Trump’s high-profile “Board of Peace” initiative for Gaza reconstruction has reportedly failed to receive any money into its official fund months after billions of dollars were publicly pledged, according to an investigation by the Financial Times.
The FT reported that the World Bank-administered fund linked to the initiative still holds “zero dollars”, despite announcements of roughly $17 billion in commitments from the United States and several allied nations.
Trump unveiled the Board of Peace earlier this year as a major international body intended to oversee Gaza’s post-war rebuilding efforts following the Israel-Hamas ceasefire agreement backed by Washington.
He described the initiative as one of the most consequential diplomatic projects ever created.
According to the FT investigation, donor money has instead been routed through a separate JPMorgan account rather than the official World Bank fund endorsed by the United Nations.
The arrangement has reportedly triggered concerns because the private account is not subject to the same independent transparency and reporting requirements.
The report said only relatively small sums have been deposited so far, including contributions linked to Morocco and the United Arab Emirates, while no major reconstruction projects have begun in Gaza. No contracts have reportedly been awarded.
People familiar with the matter told the FT that uncertainty surrounding Gaza’s political future, ongoing security concerns, and disagreements over Hamas disarmament have contributed to delays in moving funds into the official account.
The initiative has also faced growing scrutiny in Washington over its legal status, governance structure, and oversight mechanisms.
Some lawmakers have reportedly questioned whether the body can legitimately receive and distribute American taxpayer funds.
A separate Reuters report published last month said the broader reconstruction plan was already struggling because of funding shortages and operational setbacks on the ground in Gaza.
The United Nations and the European Union previously estimated that rebuilding Gaza after the war could require more than $70 billion over the next decade.
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