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[Herald Economy reporter Jang Yun-woo] Donald Trump, who spearheaded the creation of the Gaza Peace Commission, has failed to secure a single dollar for reconstruction four months after the body’s launch, according to officials.
According to Yonhap, the British Financial Times (FT) reported on the 26th (local time), citing four people familiar with the matter.
The commission was launched on Jan. 22 at the World Economic Forum in Davos, Switzerland, where President Trump attended. Intended as the primary decision-making body to maintain peace in Gaza and coordinate urban reconstruction, it was once touted as a potential alternative to the U.N.
At the commission’s first meeting in Washington on Feb. 19, President Trump pledged, “The United States will contribute $150 million to the commission.” He added that the amount was “a very small number compared with the cost of war.”
The Times of Israel reported that, as of this week, 24% of the total pledged amount has actually been transferred. FT sources also told the outlet that the commission has not received even $51,300,000 for Gaza reconstruction to date.
The State Department attempted to provide roughly $51,300,000 in operational funding for the commission, but that effort stalled. Some U.S. lawmakers questioned whether the commission qualifies as a legitimate international organization eligible to receive U.S. funds, and the State Department has not yet provided detailed answers.
Sources told the FT the State Department will not release funds until the commission implements essential financial controls.
Al Jazeera has analyzed the commission’s funding shortfall as tied to strict political and security conditions: many countries are reluctant to disburse money while Hamas remains armed, and that reluctance is blocking actual transfers.
Even if all pledged funds were delivered, they would fall far short of needs. The EU, U.N., and World Bank estimate Gaza will require at least $150 million over the next decade for reconstruction. The commission has begun soliciting bids for rebuilding projects, but it has not awarded a single contract.
Bishara Bahbah, a Palestinian-American businessman who assisted the Trump administration during earlier Gaza peace talks, told the FT, “The commission has not started work inside Gaza because of a lack of on-the-ground funds. It’s truly devastating.”
Meanwhile, the Israeli military continues operations inside Gaza, and Hamas maintains its prior activities, leaving peace negotiations effectively deadlocked.
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