President Donald Trump’s “Board of Peace” has reported an urgent funding gap for its Gaza rebuilding plan. In a new report, the board warned that a potential cash crunch threatens the ambitious $70 billion initiative.
The US president established the board to oversee his plan to end the war in Gaza and reconstruct the territory. While key US allies in the Middle East, including Saudi Arabia, the UAE, and Qatar, have pledged funds, many global powers have hesitated to join.
Gap Between Pledges and Payments
In a 15 May report to the United Nations Security Council, the board stressed the need for faster disbursement of the $17 billion pledged by members. The report stated, “the gap between commitment and disbursement must be closed with urgency.”
Furthermore, it highlighted the real-world consequences of the delays. “Funds committed but not yet disbursed represent the difference between a framework that exists on paper and one that delivers on the ground for the people of Gaza,” the report added. The board also called on all countries that have made pledges to “accelerate disbursement processes.”
Hurdles to Reconstruction
The task is immense, as the board’s report noted that the conflict has destroyed 85% of Gaza’s buildings and infrastructure. Consequently, workers must clear an estimated 70 million tonnes of rubble before rebuilding can truly begin.
However, the reconstruction plan faces political and financial obstacles. Despite a ceasefire, the security situation remains fragile, with some European and Asian officials expressing concerns about transparency and oversight within the board’s structure. As a result, they prefer to fund reconstruction through established institutions like the UN, delaying contributions to Trump’s initiative.
