“Peace Council” account still empty: “Zero dollars”

TT

Published 11.13

 

Donald Trump shows a resolution establishing his "peace council" during a ceremony in Washington in February. Photo: Mark Schiefelbein/AP/TT

Zero dollars. That is the balance of the fund at the World Bank, linked to Donald Trump's "peace council", which is to finance reconstruction in the Gaza Strip, writes The Financial Times (FT).

- Zero dollars have been deposited, an informed source states according to the newspaper.

When US President Trump launched the council last winter, the members promised seven billion dollars to rebuild Gaza after the war. Trump himself promised another ten billion.

Some small sums have come in. But instead of with the World Bank, they have been deposited with the commercial bank JP Morgan, where the Peace Council's assets cannot be independently controlled. "At the moment, donors have chosen to use other options" than the UN-approved account, a council source told the FT.

Rebuilding Gaza is expected to cost at least $70 billion over the next decade.