World Bank Chief Defends Role on Trump's 'Board of Peace' for Gaza

Banga says bank is seeking to play 'constructive' role in aiding Gaza's recovery after two-year war.

Apr. 7, 2026 at 8:07pm

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A serene, cinematic painting depicting a dilapidated, war-damaged building in Gaza, with warm sunlight casting long shadows across the scene, conveying a sense of melancholy and the challenges of rebuilding after conflict.The World Bank's involvement in the reconstruction of war-torn Gaza raises questions about its role in the complex political dynamics of the region.Washington Today

World Bank President Ajay Banga defended the bank's role on Donald Trump's 'Board of Peace' for Gaza, saying it is seeking to play a constructive part in providing financial resources to support Gaza's reconstruction after a two-year war between Israel and Palestinian militants. Banga said the bank is following a UN Security Council resolution calling on financial institutions to work with the board.

Why it matters

The World Bank's involvement in Trump's 'Board of Peace' initiative for Gaza has drawn criticism from some, who see it as aligning the bank too closely with the former U.S. president's policies. However, Banga argues the bank is simply following the UN's directive to provide financial assistance for Gaza's recovery.

The details

Banga said the World Bank has already taken steps to support Gaza, including creating a Palestinian expert group and investing in the equity of the Bank of Palestine. He said the bank's goal is to help reconnect Palestine and Gaza with their neighbors digitally and physically, and to facilitate trade.

  • In September 2025, Trump announced his plan to end the war in Gaza and convened the first meeting of the 'Board of Peace'.
  • In February 2026, Trump announced that a host of nations had contributed $7 billion to a reconstruction fund for Gaza.

The players

Ajay Banga

President of the World Bank, who is defending the bank's role on Trump's 'Board of Peace' for Gaza.

Donald Trump

Former U.S. president who proposed the 'Board of Peace' initiative and is the permanent chairman of the board.

Marco Rubio

U.S. Secretary of State, who was appointed to serve on the executive board of the 'Board of Peace'.

Jared Kushner

U.S. presidential adviser, who was appointed to serve on the executive board of the 'Board of Peace'.

Steve Witkoff

U.S. presidential adviser, who was appointed to serve on the executive board of the 'Board of Peace'.

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What they’re saying

“Our role on the Board of Peace is very clear. We are a limited trustee of a trust fund that has been created into which these governments want to put in money to help the reconstruction.”

— Ajay Banga, President, World Bank

“So what we're trying to do, actually, is to be a constructive part in that role, (to) try to follow that ... UN high council (Security Council) resolution.”

— Ajay Banga, President, World Bank

What’s next

The World Bank and other financial institutions will continue to work with the 'Board of Peace' to provide funding and support for Gaza's reconstruction, with the details of how the $7 billion reconstruction fund will be allocated still to be determined.

The takeaway

The World Bank's involvement in Trump's 'Board of Peace' for Gaza has drawn criticism, but the bank argues it is simply following a UN directive to provide financial assistance for the territory's recovery after the devastating two-year war. The bank's goal is to help reconnect Gaza with its neighbors and facilitate trade, though many challenges remain in the overall peace process.