President Donald Trump announced Thursday that the United States will commit $10 billion to the Board of Peace, a forum initially created to help reconstruct the Gaza Strip but one that Trump now envisions playing a larger role in addressing global conflicts.
The pledge came during the first official meeting of the Board of Peace, held in Washington, D.C., where Trump underscored the financial commitment while framing it in the broader context of the cost of war.
“When you look at that compared to the cost of war, that’s two weeks of fighting, it’s a very small number. It sounds like a lot, but it’s a very small number,” Trump said.
The White House did not immediately respond to questions about where the $10 billion would be drawn from.
The Board of Peace received its mandate from the United Nations Security Council as part of its approval of the Trump administration’s 20-point peace plan for Gaza. While originally centered on reconstruction efforts in the region, Trump made clear that he intends for the board to take on a wider mission beyond Gaza.
In remarks at the meeting, Trump invited dozens of countries to become founding members of the Board of Peace, proposing a $1 billion pledge for lifetime membership. However, it remains unclear how the board’s expanded focus might affect its original mandate to oversee Gaza’s reconstruction, or whether all funds pledged to the board would ultimately be directed toward Gaza-related efforts.
So far, Trump said $7 billion has already been raised for a relief package for Gaza. The funds have been provided by Kazakhstan, Azerbaijan, the United Arab Emirates, Morocco, Bahrain, Qatar, Saudi Arabia, Uzbekistan and Kuwait.
The money designated for Gaza will be placed in a dedicated account at the World Bank known as the Gaza Reconstruction and Development Fund, according to World Bank President Ajay Banga, who also spoke at the event.
Banga confirmed that the fund is prepared to begin receiving the donations referenced by Trump.
“This fund is ready to receive the donations that he spoke about just a little while ago,” Banga said.
Under the structure outlined at the meeting, the Board of Peace will determine how the money is distributed. The board is chaired by Trump, who appears to hold ultimate decision-making authority over where funds are directed.
Banga explained that while the board oversees allocations, the World Bank will play a key role in ensuring proper oversight and transparency.
“The Board of Peace is responsible for ensuring that the right kind of financial legal and oversight mechanisms are being put in place,” Banga said, adding that the World Bank is expected to assist with maintaining transparency throughout the process.
He also noted that a financial controller from the World Bank has been assigned on a secondary basis to the Board of Peace to help establish strong financial standards.
“We’ve even assigned a financial controller from the World Bank on a secondary basis to the Board of Peace to ensure that we can try and help build the best standards in this process,” Banga said.
With billions already pledged and a broader mission on the table, the Board of Peace appears poised to become a central instrument in Trump’s approach to reconstruction and conflict resolution abroad.
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