Trump's Gaza Rebuilding Fund Empty as Pledges Redirected to Private Bank
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WASHINGTON: US President Donald Trump’s Board of Peace faces a major financial crisis as its official World Bank-administered fund holds ‘zero dollars,’ the Financial Times reported Wednesday.
The initiative, established in January to orchestrate a $17 billion post-war reconstruction package for Gaza, has not received any direct deposits from its international member states.
Instead, a board spokesperson revealed that contributors have bypassed the UN-endorsed World Bank mechanism, opting to route initial donations directly into a private JPMorgan bank account.
Financial analysts note that this alternative account completely lacks the independent auditing and transparency requirements legally mandated by the World Bank.
This funding structure has caused significant political friction, stalling crucial humanitarian operations. While over $17 billion has been publicly pledged by nations like the US, Saudi Arabia, and the UAE, the vast majority of those funds have not yet been disbursed, leaving the region's recovery plans completely frozen.
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