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WhatsAppWhat is Trump's Peace Council and Why Is It Out of Money?
President Donald Trump's controversial Peace Council, established to oversee the reconstruction and demilitarization of Gaza, is reportedly out of money. According to a Financial Times investigation, the council—which attracted mostly autocratic member states—is stuck in a 'legal and political no-man's land.' Despite promises of billions in contributions, not a single cent has reached the intended reconstruction fund. The Gaza peace plan remains stalled as the council faces a severe funding crisis.
Background: The Creation of the Peace Council
In early 2026, Trump launched the Peace Council during the World Economic Forum in Davos. More than twenty invited countries signed up for membership, paying an estimated $1 billion each in membership fees. The council's stated mission was to rebuild Gaza and ensure its demilitarization. Trump appointed himself chairman for life and promised an additional $10 billion in U.S. support on top of the $7 billion expected from member states. The funds were supposed to be channeled through a World Bank trust fund, ensuring full transparency. However, according to FT sources, no money was ever deposited there.
Where Did the Money Go?
Instead of going to the World Bank, donations were reportedly deposited directly into an account at JPMorgan Chase. The exact amounts, origins, and uses of these funds remain unclear. The lack of transparency has drawn sharp criticism. Known contributions include $20 million from Morocco, which went directly to fund the office of former UN envoy Nickolay Mladenov—appointed by the U.S. as Gaza envoy—rather than to Gaza itself. The United Arab Emirates pledged $100 million for training a new Gaza police force, but those funds are reportedly frozen. The 2025 Gaza ceasefire deal