Trump controls the Board’s finances as chair, creating what looks to be a slush fund of international proportions. A $1 billion contribution secures permanent membership on the Board instead of a three-year appointment, which requires no payment. Trump said he also exacted promises of more than $7 billion from nine countries, although Board of Peace documents show only eight countries formally signed a pledge of their “intention to contribute funds to the Board of Peace.” For his part, Trump promised to siphon U.S. tax dollars — at least $10 billion — into the Board’s coffers. The Board of Peace, in turn, announced “more than $15 billion in funding commitments” for “humanitarian relief and reconstruction activities” in Gaza.
The Board’s charter states that it can acquire and dispose of “immovable and movable property, institute legal proceedings, open bank accounts, receive and disburse private and public funds, and employ staff.” As chair, Trump has “exclusive authority to create, modify, or dissolve subsidiary entities as necessary or appropriate to fulfill the Board of Peace’s mission.” It remains unclear how all of the Boards’ funds will be spent and if there will be any meaningful supervision of the Board’s finances. The executive board — which Trump chooses and controls — provides “oversight mechanisms with respect to budgets, financial accounts, and disbursements,” according to the charter.
The Board says that the World Bank-administered Gaza Reconstruction and Development Fund “will operate under defined fiduciary controls, aligned with global best practices” and that an “AI-enabled digital infrastructure backbone will support procurement transparency and transform Gaza into a modern economy, reducing corruption risk and ensuring responsible stewardship of reconstruction capital for the benefit of Gaza’s residents.”