Donald Trump’s Board of Peace has no money in its official fund as the organisation remains stuck in limbo.
In January this year, the organisation was set up by Trump with the aim of overseeing the rebuilding of Gaza.
The US president described the board as one of the “most consequential” international organisations created.
With some $1bn in “lifetime membership” fees from world leaders pledged and another $7bn pledged for the board’s Gaza “relief package, Trump then promised a further $10bn in US funding.
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But four months on from its establishment, not a single dollar has landed in the board’s financial fund set up by the World Bank.
Four people familiar with the matter told the Financial Times about the lack of money, with one saying that “zero dollars have been deposited.”
Instead of using the UN-endorsed fund administered by the World Bank, the board has received donations directly via its JPMorgan account, the board’s spokesperson and another person familiar with the arrangements told the FT.
No independent transparency requirements are in place for the JPMorgan account.
An official said “a number of options were established to receive funding” including the World Bank mechanism and that “at this point, contributors have opted to use other options”.
They added that the Board of Peace will “report its financials” to its own executive board.
The Board of Peace was one of Trump’s grand plans, and was originally announced to oversee the rebuilding of Gaza.
However, a leaked text of its founding charter said the board would be “an international organisation that seeks to promote stability, restore dependable and lawful governance, and secure enduring peace in areas affected or threatened by conflict.”
The likes of Egypt, Saudi Arabia, Israel, Turkey and Pakistan have joined the board, whilst former UK prime minister Tony Blair is on its founding Executive Board.