US President Donald Trump launched the first practical step of the “Peace Council” by announcing financial pledges worth $17 billion to rebuild Gaza, including $10 billion from the United States, in addition to contributions from countries and individuals to support a proposed stabilization force in the Strip.
This step comes at a time when questions are increasing about the Council’s working mechanisms and the scope of its powers, amid European reservations and internal criticism that question its legal legitimacy and its potential role outside the current international frameworks.
Trump reported that the United States would contribute $10 billion, while other council member states pledged about $7 billion.
He added: “We present a model for how sovereign countries can cooperate responsibly to bear responsibility for confronting problems in their regions,” stressing that the Council “does not just bring together countries, but rather develops solutions and applies them.”
Trump indicated that Saudi Arabia, Qatar, the Emirates, Kazakhstan, Azerbaijan, Morocco, Bahrain, Uzbekistan, and Kuwait are among the countries that have pledged more than $7 billion to the relief package, noting that Japan intends to organize a donation campaign to support relief efforts in Gaza.
However, Trump’s statements also revealed deeper differences that may hinder the Council’s mission. After announcing that Norway would host a future meeting, he sarcastically criticized Oslo for not awarding him the Nobel Peace Prize, saying: “I thought they would announce that they would award me the Nobel. This is less exciting.”
The council was originally proposed as part of a 20-point peace plan for Gaza, with the aim of supervising its stability and reconstruction after the Israeli war on it.
According to Bloomberg, opponents criticized the council and considered it a fund that could be controlled by Trump. The president had said that countries wishing for permanent membership – and he personally chairs the council – would be obligated to contribute one billion dollars.
In a related context, the Financial Times reported today, citing informed sources, that JP Morgan Bank is in talks to provide banking services to the Peace Council.
The report added that the bank discussed providing services such as facilitating payments to and from the council.
Trump had officially announced the “Peace Council” during his visit to Davos last month on the sidelines of the World Economic Forum, but major allies from the G7 and the European Union stayed away from the initiative, due to their reservations about adopting a new structure whose authority, legal basis, and relationship with existing institutions are still unclear.
