The Board of Peace is warning that efforts to rebuild the war-ravaged Gaza Strip are in jeopardy if countries do not follow through on their financial pledges to the US-led body tasked with overseeing the postwar management of the enclave.

Over half a dozen countries announced major donations to the Board of Peace during a February fundraising conference in Washington. The United Arab Emirates, Qatar, Saudi Arabia and Kuwait each pledged at least $1 billion, with US President Donald Trump announcing Washington would tack on another $10 billion.

But as of this week, just around one percent of the $17 billion that the US said was pledged to the Board of Peace has actually been transferred, according to two officials familiar with the matter.

After denying money problems last month, the Board of Peace acknowledged them in a May 15 report it submitted to the UN Security Council, which was obtained by The Times of Israel.

“The Board of Peace underscores that the gap between commitment and disbursement must be closed with urgency. Funds committed but not yet disbursed represent the difference between a framework that exists on paper and one that delivers on the ground for the people of Gaza,” the report states. Parts of the letter were first published by Reuters.

The fundraising call in the letter also includes a separate Gaza relief initiative headed by the UN, which “estimates total recovery and reconstruction needs in Gaza at $71.4 billion over the next decade.”

To try and close the fundraising gap, the US asked Israel to allow a portion of the $5 billion in Palestinian tax revenues that Jerusalem is withholding from the Palestinian Authority to be transferred instead to the Board of Peace.

A Palestinian official told The Times of Israel that the PA offered to donate to the Board of Peace, but is conditioning its contribution on Israel releasing the clearance revenues, which Jerusalem is supposed to collect on Ramallah’s behalf and transfer to the PA each month. Smotrich has refused to sign off on the transfers so for over a year, a........

© The Times of Israel