The fund set up by the World Bank for Donald Trump’s Board of Peace has received no funding, despite pledges totaling $17 billion from the US and other world leaders, the Financial Times reported on Wednesday, citing four sources familiar with the matter.
“Zero dollars have been deposited,” one source said.
The board has received donations, but they have been deposited directly via its JPMorgan account, according to the board’s spokesperson.
“A number of options were established to receive funding,” a Board of Peace official told the FT. “At this point, contributors have opted to use other options.”
The JPMorgan account is under no obligation to report its financial position to contributors and board members, unlike the World Bank, as FT wrote.
The Board of Peace has committed to reporting its financials to its own executive board “at a time deemed appropriate,” the official said.
Morocco has contributed about $20mn, which has helped fund the office of Nickolay Mladenov, the “high representative” for postwar Gaza, and salaries for the Palestinian technocratic committee formed by the board to govern Gaza, FT reported.
Additionally, the United Arab Emirates contributed $100mn dedicated to training a new police force for Gaza, but the funds are frozen, and the program has not started, FT cited two people familiar with the matter as saying.
