The US President Donald Trump\u2019s Peace Board has no cash in its\nofficial funds despite billions in pledges from member nations, the\nFinancial Times reported on Wednesday. Funds intended for Palestinian\nreconstruction have instead been diverted to a JPMorgan account.<\/p>\n
The board, established in January to support Gaza\u2019s reconstruction\nfollowing an October ceasefire aimed at ending three years of conflict\nin the region, was proposed by Trump to aid rebuilding efforts. An EU-UN\nassessment published in April estimated over $71 billion would be needed\nfor the next decade.<\/p>\n
According to the FT, the board\u2019s official funds, managed by the World\nBank and backed by the United Nations, have not received any\ncontributions from donors since its launch. \u201cZero dollars have been\ndeposited,\u201d a source told the newspaper. Instead, donations have\nreportedly been directed to a JPMorgan account, according to the board\u2019s\nspokesperson. The FT noted the account lacks \u201cindependent transparency\nrequirements.\u201d<\/p>\n
Trump previously stated the US would contribute $10 billion to the\nboard, while Qatar, Saudi Arabia, and the United Arab Emirates each\npledged at least $1 billion.<\/p>\n
Under the board\u2019s charter, member nations must donate $1 billion to\nsecure a permanent seat. However, Indonesia, one of the participating\ncountries, rejected the commitment, particularly after attacks on\nIran.<\/p>\n
The initiative gained attention after Trump invited nations outside\ntraditional Middle Eastern diplomatic circles, including Russian\nPresident Vladimir Putin. Several major European countries have not\njoined, with France and the United Kingdom both refusing\nparticipation.<\/p>\n
The board largely comprises longstanding US allies in the Middle\nEast, Trump\u2019s ideological allies, and smaller nations seeking closer\nties with Washington. It is also closely tied to Trump personally, with\nits charter granting him ultimate authority and allowing him to retain\ncontrol beyond his presidency.<\/p>\n
The funding shortfall has affected plans for the Gaza National\nAdministration Committee (NCAG), a US-backed Palestinian technocratic\nbody aiming to take over governance from Hamas. Reuters reported in\nApril, citing a Palestinian official familiar with the matter, that the\nboard informed Hamas and other Palestinian factions that NCAG could not\nenter Gaza due to insufficient funds.<\/p>\n
Sources said funding shortages and security issues have delayed the\ncommittee\u2019s deployment. Despite the October ceasefire, violence has\npersisted in Gaza, with Israeli strikes reportedly killing at least 700\npeople since then, according to local health authorities.<\/p>\n
Israel\u2019s military campaign in Gaza has killed over 72,000\nPalestinians since 7 October 2023, according to local health\nauthorities, displacing most of the population.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/trumps-peace-board-stalled-as-accounts-show-zero-balance-1779930436", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }