President Donald Trump’s much-hyped “Board of Peace” for Gaza reconstruction is reportedly yet to receive a single dollar into its official fund, despite billions in international pledges and repeated promises from the president that the initiative would reshape the region after the war.

Four months after Trump unveiled the body with considerable fanfare, four people familiar with the matter told the Financial Times on Wednesday that the World Bank-administered fund created for the project remains entirely unfunded.

“Zero dollars have been deposited,” one source said.

The board was pitched by Trump as one of the “most consequential” international organizations ever created, and member states reportedly pledged $7 billion toward a Gaza “relief package.”

Trump himself promised another $10 billion in U.S. support.

But while the official World Bank fund remains empty, donations have instead reportedly flowed through a separate JPMorgan account controlled by the organization. Unlike the World Bank fund, the account is not subject to the same transparency requirements.

A Board of Peace official told the FT that “a number of options were established to receive funding” and that “contributors have opted to use other options.” The official added that the organization “will report its financials” to its own executive board “at a time deemed appropriate.”

The funding confusion has deepened scrutiny in Washington, where lawmakers are increasingly pressing the administration for clarity over the board’s legal status, oversight, and authority.

The board has begun soliciting contracts for future reconstruction and security projects, though no contracts have been awarded, according to the FT. Officials cited Hamas’ continued refusal to disarm and the lack of operational conditions inside Gaza.

Meanwhile, two people involved in post-war planning told the FT that “not one US dollar” has yet been deployed for rebuilding the enclave.

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