Trump Secures Billions in Pledges for Gaza Reconstruction, Launches Expanded Peace Initiative
U.S. President Donald Trump announced on Thursday, February 19, 2026, that members of his newly formed Board of Peace have pledged a combined US$7 billion toward a relief package for Gaza. Five countries have also committed to deploying troops as part of an international stabilization force for the Palestinian territory, according to statements released during the board’s inaugural meeting. This development comes as the Gaza ceasefire remains fragile and signals a broader ambition for the board beyond the initial conflict.
The pledged funds, while substantial, represent a fraction of the estimated $70 billion needed to rebuild Gaza following two years of conflict between Israel and Hamas. Trump lauded the commitments from allies but did not provide a timeline for implementation. “Every dollar spent is an investment in stability and the hope of new and harmonious (region),” Trump said. “The Board of Peace is showing how a better future can be built right here in this room.”
The U.S. Itself is pledging $10 billion through the board, though the source of these funds and their specific allocation remain unclear, requiring authorization from Congress. The Board of Peace was initially established as part of Trump’s 20-point peace plan focused on resolving the conflict in Gaza. However, the president’s vision for the board has expanded since the October ceasefire, now encompassing a wider remit to address conflicts globally.
This broadened scope has raised concerns among some U.S. Allies, who are wary of the new body’s direction. The announcement follows a recent report that Trump withdrew an invitation to Carney to join the Board of Peace. The situation underscores the complex geopolitical landscape and the challenges of securing lasting peace in the region.
Meanwhile, the European Central Bank (ECB) is accelerating its plans for a digital euro, anticipating its launch by 2029. According to statements from the ECB, the digital euro is seen as crucial for maintaining autonomy and reducing reliance on foreign payment systems.
ECB official Cipollone estimates the development and implementation of the digital euro will cost European banks between 4 to 6 billion euros over the next four years. Cipollone also emphasized the digital euro’s potential to provide families with the security and privacy associated with cash transactions. The move reflects a growing global trend toward central bank digital currencies (CBDCs) and their potential impact on the financial landscape.
