Washington: Four months after its launch, the official financial fund created for United States President Donald Trump‘s Board of Peace initiative reportedly remains without any deposited funds despite multi-billion-dollar commitments for Gaza reconstruction. Reports indicate that the situation has left planned projects facing uncertainty while questions continue over funding mechanisms, transparency and the organisation’s operational structure.
The development has drawn attention because the initiative was introduced as a major international effort aimed at supporting reconstruction and stabilisation activities in Gaza.
Billions pledged but fund remains empty
According to reports, member states of the Board of Peace had pledged approximately $7 billion towards a Gaza relief and reconstruction package, while an additional $10 billion commitment had been announced from the United States. However, the World Bank-administered fund reportedly has not received any deposits so far.
Sources cited in recent reports stated that no funds have yet entered the official mechanism intended to manage and distribute resources for projects connected to Gaza reconstruction.
The funding gap has reportedly delayed the progress of anticipated reconstruction activities.
Donations reportedly moved through separate channels
Reports indicate that some contributions were instead routed through a separate private banking arrangement rather than through the World Bank-supported mechanism.
According to information cited in reports, donations were directed to an account at JPMorgan, which has raised concerns regarding transparency and oversight because it does not follow the same independent reporting requirements associated with multilateral financial systems.
Board representatives reportedly stated that contributors had chosen different funding options and indicated that financial details would be shared with the organisation’s executive structure at an appropriate stage.
Reconstruction projects remain stalled
Despite announcements regarding reconstruction plans and proposed programmes, reports suggest that major projects in Gaza have yet to begin.
Sources familiar with the process stated that no significant contracts have been awarded and no substantial reconstruction funding has reached the ground so far.
Officials associated with the initiative reportedly attributed delays partly to security concerns and ongoing political issues, including unresolved questions regarding conditions on the ground in Gaza.
Questions raised over structure and legal status
The organisation has also reportedly faced scrutiny regarding its legal and operational framework.
Reports indicated that lawmakers and observers have raised questions over the exact nature of the Board of Peace and how it functions within existing international structures.
Concerns have also reportedly been raised about long-term authority and governance issues surrounding reconstruction efforts and implementation responsibilities.
As discussions continue over funding and organisational processes, the future direction of the initiative remains under observation.