On February 19, 2026, US President Donald Trump convened the first formal meeting of the Board of Peace in Washington, presenting it as the diplomatic engine for the next phase of the ceasefire and Gaza's reconstruction, even as the initiative faces open skepticism from key European capitals and the Vatican’s refusal to participate.
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The meeting’s headline deliverables were money, membership, and a claim of momentum.
Trump told representatives from 47 nations that the United States would contribute $10 billion, while participating countries had raised an additional $7 billion as an initial “down payment” for Gaza reconstruction, alongside a $2 billion UN contribution for humanitarian assistance and $75 million from FIFA for soccer-related projects.
Yet the financial numbers, while politically significant, remain far below upper-end reconstruction estimates, which have been reported to reach as high as $70 billion.
The initial tranche appears designed to stabilize basic infrastructure, humanitarian systems, and early reconstruction, not to fully rebuild Gaza. The funding, therefore, marks the opening of a multi-phase process rather than its completion.
People walk among debris at the area where Israeli hostages were rescued on Saturday in Nuseirat refugee camp in the central Gaza Strip, June 9, 2024. (credit: REUTERS/Abed Khaled)
The meeting unfolded against a parallel escalation track. Trump said he expected to know within 10 days whether a “meaningful deal” with Iran was possible, as the US continued a major regional military buildup. The issues of Gaza and Iran are now unfolding simultaneously, a reality that shapes both diplomatic bandwidth and political risk.
Institutionally, the Board’s identity remains contested, including by legal scholars who view its architecture as atypical.
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