Funding Shortfall and Its Consequences for the Peace Council
Launched by former U.S. President Donald Trump to oversee the reconstruction of the Gaza Strip, the so-called Peace Council has failed to secure any of the promised funding four months after its establishment. Not a single dollar has been deposited into the fund, despite pledges from several countries totaling $17 billion. As a result, reconstruction projects in Gaza have stalled, and the organization itself now faces legal and political uncertainty.
So far, no progress has been made on key fronts, including:
- disarming Hamas;
- withdrawing Israeli forces from the Gaza Strip;
- general regional recovery efforts.
No American taxpayer money has been spent on Gaza’s rebuilding. The Peace Council accepts donations through an account at JPMorgan Chase. Morocco has contributed roughly $20 million to cover the operations of the office of Special Representative Nikola Mladenov and the salaries of members of the Palestinian technocratic committee.
Trump’s Announcement
The first formal meeting of the Peace Council took place in Washington. During the event, Donald Trump declared that the United States would allocate $10 billion to the Council’s activities, describing the sum as 'very small compared to war spending.' However, according to a source cited by the Financial Times,
“not a single dollar has been credited.”Trump also suggested that the Peace Council could eventually replace the United Nations. But without adequate funding, the initiative’s implementation remains in jeopardy.
The lack of financial backing for the Peace Council could have serious implications for Gaza’s recovery, a region long devastated by conflict and humanitarian crises. Despite international commitments, projects intended to improve conditions are at risk due to the absence of funds. This raises doubts about the effectiveness of global support and the ability of new initiatives like the Peace Council to bring about real change in the region.