Trump Peace Council Fund Is Empty Four Months After Launch, Financial Times Says

Four months after U.S. President Donald Trump launched his Peace Council, the council’s official fund is empty, with donors transferring money into JPMorgan accounts instead of the World Bank-managed mechanism, according to the Financial Times as cited by Українські Національні Новини (УНН).

“President Donald Trump’s Peace Council has not received a single dollar in funding four months after its creation”

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УНН reports that “Not a single dollar has been contributed,” and that the legal and political uncertainty has stalled Gaza reconstruction projects.

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i24NEWS similarly says “Zero dollars have been deposited,” and links the empty World Bank account to money routed through a less-transparent private account held by the board.

The same reporting says smaller sums have still reached the council’s operations, including roughly $3 million from Morocco and $20 million from the UAE for the office of postwar Gaza envoy Nickolay Mladenov and the Palestinian technocratic committee’s salaries.

The UAE’s $100 million pledge to train a new Gaza police force is described as frozen, while the State Department plans to redirect around $1.2 billion in aid toward the council’s goals but has not disbursed it.

Al-Jazeera Net reports that the Agence France-Presse, citing a knowledgeable source on Wednesday, said the Peace Council has not received any money from donors, and that the council denied it in a post on the X platform.

Al-Jazeera Net adds that the Financial Times quoted four informed sources saying “not a single dollar has been deposited,” while the council said on X that its fund is “nothing more than one of the many financing mechanisms” donor groups have not used yet.

Al-Jazeera Net

The same Al-Jazeera Net account says the council’s own fund has not received money because it is designated for the reconstruction and development phase that has not yet been reached under the ceasefire terms between Israel and Hamas.

i24NEWS frames the dispute around the World Bank account created to hold pledged funds, saying it remains empty four sources told the newspaper, with contributions instead routed into a JPMorgan account.

i24NEWS also reports that the council’s spokesperson attributed the lack of contracts for reconstruction and security work to the fact that operations cannot begin while Hamas remains armed.

The reporting ties the funding stalemate to broader uncertainty about the Peace Council’s ability to move from planning to execution, with Al-Jazeera Net describing the council as created in January and tasked with overseeing reconstruction of the Gaza Strip.

Al-Jazeera Net says the council’s initial aim was to oversee the ceasefire and reconstruction, but its goal expanded to include resolving various international conflicts, raising fears it could become a body parallel to the United Nations.

УНН reports that the U.S. State Department intends to reallocate about $1.2 billion in aid funds to projects related to the council’s agenda, while a senior congressional aide said “None of that money (has gone to the council).”

i24NEWS adds that a further $50 million the State Department hopes to give the board directly is also on hold until the body puts proper financial safeguards in place.

Le Figaro describes the Peace Council’s mission as assisting the 15-member Palestinian technocratic committee chaired by former Palestinian deputy minister Ali Shaath, which began work Thursday in Cairo, and says under UN Security Council Resolution 2803 the council is tasked to guide reconstruction and coordinate financing.