Board of Peace Mandek, Balance in Its Account is Zero

Despite billions of dollars pledged by member states, the US-backed Palestinian Reconstruction Fund, initiated by former President Donald Trump, reportedly holds no cash in its official accounts. The fund, established in January to support Gaza's reconstruction following the October ceasefire, has yet to receive any contributions since its launch.

According to reports, funds designated for Gaza's rebuilding have instead been directed to a JPMorgan account. This account reportedly lacks the independent transparency requirements mandated for the official fund, which is managed by the World Bank and supported by the United Nations. The estimated cost for Gaza's reconstruction over the next decade exceeds $71 billion, according to a joint EU-UN assessment.

Major donors, including the United States, Qatar, Saudi Arabia, and the United Arab Emirates, had pledged significant sums, with the US alone promising $10 billion. However, the official fund has seen no deposits. This financial shortfall has directly impacted the plans of the Palestinian National Administration Committee (NCAG), a US-backed technocratic body intended to take over governance of Gaza from Hamas.

The lack of funds, coupled with ongoing security concerns, has prevented the NCAG from entering Gaza. This situation unfolds amidst continued violence in the region, with Israeli forces reportedly causing significant casualties since the October ceasefire.