A source disclosed that the 'Peace Council', created by U.S. President Donald Trump to oversee the reconstruction of Gaza, currently has no funding in its own account, despite receiving financial promises amounting to billions of dollars. The source informed Agence France-Presse that the fund, managed by the World Bank, has not received any money from donors, as the phase designated for reconstruction and development has not yet commenced according to the terms of the ceasefire agreement between Israel and Hamas.
The 'Peace Council' was established in January of this year as part of the U.S. proposal that led to a ceasefire agreement in the war that erupted between Israel and Hamas in October 2023. Initially, the council's goal was to oversee the ceasefire and the reconstruction of the region, but its objectives have expanded to include the resolution of various international disputes, raising concerns that it may become a parallel entity to the United Nations.
Details of the Situation
Earlier, the British newspaper 'Financial Times' reported that the council, which Trump continues to chair even after his term, has not received any funds in its own account. Instead, the funds have been deposited directly into an account opened at JPMorgan, without any independent transparency requirements regarding this account.
Major European countries have distanced themselves from the council, with both France and the UK refusing to join. In contrast, the United States announced a contribution of $10 billion to the council, while other countries promised to provide at least $1 billion.
Background & Context
The United Nations and the European Union estimate the cost of reconstruction in Gaza over the next ten years to be $71.4 billion, according to a study conducted in collaboration with the World Bank. As military operations in Gaza continue, the death toll has risen to at least 910 people since the announcement of the ceasefire agreement, according to the health ministry in the region.
Israel controls more than 60% of the territory, including all entry and exit points, complicating reconstruction efforts. The representative of the Peace Council in Gaza, Bulgarian diplomat Nikolai Mladenov, warned of the risks that the current situation, characterized by a fragile ceasefire, could become permanent.
Impact & Consequences
Concerns are growing that the lack of necessary funding for the council may exacerbate the humanitarian situation in Gaza, where three NGOs continue to report that the humanitarian conditions remain catastrophic. The significant gap between announced commitments and actual implementation increases frustration among the population.
Under these circumstances, the question remains about how to stabilize Gaza and reconstruct it, especially amid ongoing military operations and political pressures. The absence of funding may also negatively impact peace efforts in the region.
Regional Significance
The current situation in Gaza reflects the significant challenges facing the Arab region in achieving peace and stability. While some countries seek to provide support, the reality on the ground appears to contradict this, complicating humanitarian and political conditions.
In conclusion, there remains hope that the concerned parties can find effective solutions that contribute to reconstruction and peace, but this requires a genuine commitment from the international community to provide necessary funding and pressure the involved parties to achieve this.