Published by Global Banking & Finance Review®
Posted on February 19, 2026
5 min readLast updated: April 3, 2026
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Trump presides over the first Board of Peace meeting focused on Gaza. Nations announce $5B in reconstruction funds, but disarmament, Israeli withdrawal, and aid logistics remain unsettled.
By Trevor Hunnicutt, Simon Lewis and Steve Holland
WASHINGTON, Feb 19 (Reuters) - U.S. President Donald Trump told the first meeting of his Board of Peace on Thursday that nations had contributed $7 billion to a Gaza reconstruction fund that aims to rebuild the enclave once Hamas disarms, an objective that is far from becoming a reality.
The disarmament of Hamas militants and accompanying withdrawal of Israeli troops, the size of the reconstruction fund and the flow of humanitarian aid to the war-battered populace of Gaza are among the major questions likely to test the effectiveness of the board in the months ahead.
The meeting in Washington came amid a broader push by Trump to build a reputation as a peacemaker in hopes of winning the Nobel Peace Prize. It also took place as the United States threatens war against Iran and has embarked on a massive military buildup in the region in case Tehran refuses to give up its nuclear program.
The Board's founding membership does not include some key U.S. Western allies concerned about the scope of the initiative.
In a flurry of announcements at the end of a long, meandering speech to representatives from 47 nations, Trump said the United States will contribute $10 billion to the Board of Peace. He did not say where the money would come from or whether he would seek it from the U.S. Congress.
MOSTLY MIDDLE EASTERN MEMBERSHIP
Trump said contributing nations had raised $7 billion as an initial down payment for Gaza reconstruction. Contributors included Kazakhstan, Azerbaijan, United Arab Emirates, Morocco, Bahrain, Qatar, Saudi Arabia, Uzbekistan, and Kuwait, he said. The membership is mostly made up of Middle Eastern countries, plus leaders from outside the region who may be looking to gain favor with Trump.
Estimates for rebuilding Gaza, which was reduced to rubble after two years of war, range up to $70 billion.
Trump proposed the board in September when he announced his plan to end Israel's war in Gaza. He later made clear the board's remit would expand beyond Gaza to tackle other conflicts worldwide, a point he reiterated on Wednesday by saying it would look into "hotspots" around the world.
Trump said FIFA will raise $75 million for soccer-related projects in Gaza and that the United Nations will chip in $2 billion for humanitarian assistance.
The Board of Peace includes Israel but not Palestinian representatives. Trump's suggestion that the Board could eventually address challenges beyond Gaza has stirred anxiety that it could undermine the U.N.'s role as the main platform for global diplomacy and conflict resolution.
"We're going to strengthen the United Nations," Trump said, trying to assuage his critics, even though the United States is in arrears on making payments.
Trump said Norway would host a Board of Peace event, but Norway clarified it was not joining the board.
IRAN SABER-RATTLING
Even as he talked up himself as a man of peace, Trump rattled sabers against Iran.
Trump said he should know in 10 days whether a deal is possible to end a standoff with Tehran. "We have to have a meaningful deal," he said.
Trump said several nations are planning to send thousands of troops to participate in an International Stabilization Force that will help keep the peace in Gaza when it eventually deploys.
Indonesian President Prabowo Subianto announced his country would contribute up to 8,000 troops to the force.
The plan for the force is to begin working in areas Israel controls in the absence of Hamas disarmament. The force, led by a U.S. general with an Indonesian deputy, will start in the Israeli-controlled city of Rafah and train a new police force, eventually aiming to prepare 12,000 police and have 20,000 troops.
HAMAS DISARMAMENT A KEY ISSUE
Hamas, fearful of Israeli reprisals, has been reluctant to hand over weaponry as part of Trump's 20-point Gaza plan that brought about a fragile ceasefire last October in the two-year Gaza war.
Trump said he hoped the use of force to disarm Hamas would be unnecessary. He said Hamas had promised to disarm and it "looks like they're going to be doing that, but we'll have to find out."
Israeli Prime Minister Benjamin Netanyahu said in Israel that Hamas will be disarmed one way or the other. "Very soon, Hamas will face a dilemma - to disarm peacefully or disarmed forcefully," he said.
In Gaza, Hamas spokesperson Hazem Qassem said any international force must "monitor the ceasefire and prevent the (Israeli) occupation from continuing its aggression." Disarmament could be discussed, he said, without directly committing to it.
The Board of Peace event had the feel of a Trump campaign rally, with music blaring from his eclectic playlist that included Elvis Presley and the Beach Boys. Participants received red Trump hats.
Hamas, which has resumed administration of the ruined enclave, says it is ready to hand over to a U.S.-backed committee of Palestinian technocrats led by Ali Shaath, but that Israel has not allowed the group into Gaza. Israel has yet to comment on those assertions.
Nickolay Mladenov, a Bulgarian with a senior role in the Board of Peace, said at the meeting that 2,000 Palestinians have applied to join a new transitional Palestinian police force.
"We have to get this right. There is no plan B for Gaza. Plan B is going back to war. No one here wants that," said U.S. Secretary of State Marco Rubio.
(Reporting By Trevor Hunnicutt, Steve Holland, Simon Lewis, Samia Nakhoul, and Nidal al-Mughrabi; additional reporting by Steven Scheer and Omri Taasan in Jerusalem and Matt Spetalnick; Editing by Don Durfee, Ross Colvin, Philippa Fletcher, Rod Nickel)
The article covers President Trump presiding over the first meeting of the Board of Peace, where nations announce a Gaza reconstruction fund while major security and humanitarian issues remain unresolved.
A total of $5 billion is slated to be announced, including significant contributions from Gulf allies such as the United Arab Emirates and Kuwait.
Hamas disarmament, the potential withdrawal of Israeli troops, the deployment of an international force, and how humanitarian aid will be distributed are still being debated.
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