Overview
- Financial Times reporting published May 27, 2026 shows the World Bank-managed Gaza fund set up for the Trump-led Peace Council has a zero balance despite public pledges.
- Donor payments have instead been received into a JPMorgan account that is not subject to the World Bank’s independent transparency rules.
- Several named commitments remain undisbursed or frozen, including a reported $20 million from Morocco, a $100 million UAE pledge described as frozen, and roughly $1.2 billion the US has said it will reallocate but cannot spend until handling procedures are set.
- On-the-ground work in Gaza is stalled because prepared contracts for security and reconstruction have not been awarded and the council is not yet operating inside the territory.
- The fund’s paralysis combines governance concerns over donor routing and the council’s structure with political obstacles such as the council’s rule set and the requirement cited by members that Hamas disarm before implementation proceeds.