The financial fund of the Peace Council, created by Donald Trump, received no funding from donors during the four months of its existence. This was reported by the Financial Times, citing four sources familiar with the matter.
A representative of the Council stated that instead of the official financial fund managed by the World Bank, the organization receives contributions directly, through an account at JPMorgan bank. According to him, several financing options had been provided, and donors «preferred to use others».
The difference between these two schemes, however, is fundamental. While the World Bank is required to regularly report to donors and members of the Peace Council on the state of the financial fund, no similar obligation exists for accounts held at JPMorgan. The organization’s representative clarified that the executive council will present a financial report only when it «deems it appropriate».
The US State Department plans to redirect approximately $1.2 billion in aid to projects related to the Peace Council’s activities. These funds, however, have still not been used. The State Department also intends to allocate directly to the Council an additional $50 million to cover its operational expenses — these funds have likewise not yet been transferred.
The organization itself, according to the FT, has found itself in a legal and political deadlock. Trump’s peace plan, for the implementation of which the Council was created, included three key objectives: the disarmament of Hamas, the withdrawal of Israeli troops from Gaza, and the reconstruction of the territory. No progress has been made on any of these fronts. Not «a single American dollar» has been directed toward the reconstruction of Gaza, according to two sources cited by the FT.
The Peace Council was conceived as a governing body for the Gaza Strip in the post-war period, in accordance with the peace plan of the sitting US president. In January 2026, Trump signed the organization’s charter at the World Economic Forum in Davos, in the presence of leaders from the Middle East and South America. In February, he stated that the countries that joined the Council would allocate more than five billion dollars for humanitarian aid and reconstruction of the region.
Countries wishing to join the Peace Council were invited to contribute one billion dollars in exchange for lifetime membership. Nearly 60 states received invitations to join the organization, among them Russia, Belarus, and Ukraine. Vladimir Putin had stated that Russia was ready to transfer to the Council one billion dollars from Russian assets frozen in the United States, even «before the issue of participation in the composition and work» of the organization is resolved.
