Trump's Board of Peace Routed Gaza Funds to J.P. Morgan Account, Bypassing $1 Billion World Bank Plan
Updated
Updated · NPR · Jun 1
Trump's Board of Peace Routed Gaza Funds to J.P. Morgan Account, Bypassing $1 Billion World Bank Plan
11 articles · Updated · NPR · Jun 1
Five sources told the Financial Times that the World Bank account set up for Trump's Board of Peace has received $0, even though donor money was pledged for Gaza reconstruction.
UAE and Morocco donations instead went to a private J.P. Morgan account controlled by the board, sidestepping World Bank reporting rules and donor oversight on how funds are spent.
No money from the board has reached Gaza; the funds are being used for items such as Palestinian police training and board salaries, according to the report.
The board said donors simply preferred the J.P. Morgan account and argued there is no functioning Palestinian transitional government in Gaza to receive reconstruction money.
The funding detour underscores how Trump's post-ceasefire Gaza plan has stalled as fighting continues and no legal or political framework exists for large-scale rebuilding.
Why did Gaza reconstruction funds secretly bypass the World Bank for a private J.P. Morgan account?
Is the Board of Peace's vision a path to prosperity or a plan to erase Palestinian communities?
$17 Billion Unfulfilled: How the Board of Peace Failed Gaza’s Reconstruction and Shattered Aid Trust
Overview
The Board of Peace, created by President Donald Trump to lead Gaza’s reconstruction after a US-backed ceasefire, has failed to meet its promises. Although the Board was set up to implement and fund a peace plan, by June 2026 the initiative is stalled and Gaza’s urgent needs remain unmet. Despite public pledges of billions, no real funding has reached the ground, leaving the Board’s efforts empty. This severe funding gap and lack of progress have turned the Board’s initial hope into disappointment, highlighting a critical disconnect between promises and real help for Gaza.