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Akbar Novruz

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The Board of Peace fund, established by US President Donald Trump, is empty, and the organization is facing a financial and political impasse, making the reconstruction of the Gaza Strip impossible, the Financial Times reported on Wednesday, citing four people with knowledge of the matter, AzerNEWS reports.

Member states and the US committed a total of $17 billion for Gaza reconstruction. However, no money has been deposited into the organization's World Bank-managed accounts in the four months since its establishment, according to the sources. "Zero dollars have been deposited," one of them said.

The sources added that instead of using the UN-approved World Bank mechanism, the board relies on direct donations through a JPMorgan account, which is not subject to an independent audit. A Board of Peace official told the outlet that several "options were established to receive funding," including the World Bank mechanism, but "contributors have opted to use other options." The official added that the organization will report its financials to its own executive board at the appropriate time.

Established by President Donald Trump and led by the government of the United States, the board is named in United Nations Security Council Resolution 2803 as a body tasked with overseeing the processes of the Gaza peace plan. The Board of Peace was proposed in September 2025 and formally established on the side-lines of the 56th World Economic Forum in January 2026. It has 27 member states, which include Azerbaijan, and 21 observer states.