A Trump-led fund established for the reconstruction of Gaza has reportedly remained empty, with no money deposited so far despite multibillion-dollar pledges from various countries.
According to AFP, a source familiar with the “Board of Peace” said that the official reconstruction fund, managed by the World Bank and supported by the United Nations, has not yet received any donor contributions.
US President Donald Trump proposed the board as part of post-ceasefire reconstruction efforts in Gaza. A US-backed ceasefire between Israel and Hamas was agreed in October to help end the two-year-long devastating conflict.
The report said funds have not been transferred because the reconstruction phase has not yet formally begun. Israeli military operations have continued despite the ceasefire, and Gaza’s health ministry says at least 910 people have been killed since it came into effect.
It added that Israel still controls about 60 percent of Gaza as well as all entry and exit points, while much of the population has been pushed toward coastal areas.
Meanwhile, the Financial Times reported that the Board of Peace has received direct donations into a JPMorgan account, though there is reportedly no independent transparency or oversight mechanism for it.
In a social media statement, the Board of Peace said the World Bank–managed fund is only one of several potential funding channels that donors have not yet used, while financing continues through other sources.
The report also noted that several major European powers, including France and the United Kingdom, have declined to join the board, while it mainly includes US allies in the Middle East, ideological supporters of Trump, and smaller states.
Donald Trump holds a central role in the board, with its charter reportedly granting him final authority. He has previously announced that the United States would contribute $10 billion, while Qatar, Saudi Arabia, and the United Arab Emirates have each pledged at least $1 billion.
