Trump says U.S. will give $10 billion to Board of Peace promising to rebuild Gaza

Geoff Bennett:

In the day's other headlines: President Donald Trump convened the inaugural meeting of his newly formed Board of Peace at the U.S. Institute of Peace headquarters today, a building that now bears his name.

The focus was Gaza, where a fragile cease-fire between Israel and Hamas is still holding, though tensions remain high. The president announced billions of dollars in reconstruction pledges from the U.S. and other nations, outlining an ambitious plan to rebuild Gaza.

President Donald Trump:

Does everybody like the music?

Geoff Bennett:

Today, in Washington, President Trump's newly formed Board of Peace met for the first time.

President Donald Trump:

Today, thanks to unrelenting diplomacy and the commitment of many of the great people in this room, the war in Gaza is over.

Geoff Bennett:

The president stood flanked by representatives from more than 40 countries, with observers from a dozen more, gathered for what he called one of his most important and consequential missions.

President Donald Trump:

What we're doing is very simple, peace. It's called the Board of Peace, an easy word to say, but a hard word to produce, peace.

Geoff Bennett:

But the reality in Gaza is far from peaceful. Mourners gathered for a funeral for nine Palestinians killed in Israeli airstrikes this past weekend in what Israel's military called a response to cease-fire violations by Hamas.

Alyan Al-Bayouk, Father of Killed Palestinian (through interpreter): Do you believe that there is a Board of Peace? Do you believe that Trump would come defend us, the one who is supplying Israel with weapons, money, with protection, and with an international umbrella?

Geoff Bennett:

In Washington, the president announced the U.S. would commit $10 billion toward establishing the board. It's unclear whether the president has the authority to spend those funds. Neither he nor the White House detailed where the money would come from or how it would be used.

Mr. Trump also said nine countries pledged to combine $7 billion toward a Gaza relief package. Today's session lasted several hours, with dozens of speakers, including Israel's foreign affairs minister.

Gideon Saar, Israeli Foreign Minister:

Our previous plans for Gaza failed because they never addressed the core issues, terror, hate, incitement, and indoctrination.

Geoff Bennett:

And the head of the Palestinian technocratic committee, who outlined priorities for Gaza, starting with security.

Ali Shaath, Chief Commissioner, National Committee for the Administration of Gaza: We are operating in extremely difficult conditions. Our mandate is simple, President, step by step to build the foundation for lasting peace.

Geoff Bennett:

Key U.S. allies, including the U.K., France and Canada, were not in attendance. The president said he intends to name his son-in-law Jared Kushner as a special peace envoy. Kushner, who has extensive and lucrative business ties in the Middle East, defended the board's structure.

Jared Kushner, Former Senior Presidential Adviser:

A lot of these people are volunteers. They're doing this not for any personal gain. People are not personally profiting from this.

Geoff Bennett:

The head of a newly announced International Stabilization Force said several countries, including Indonesia and Morocco, have pledged troops.

Maj. Gen. Jasper Jeffers, Commander, International Stabilization Force:

With these first steps, we will help bring the security that Gaza needs for a future prosperity and enduring peace.

Geoff Bennett:

Secretary of State Marco Rubio called the board the only way forward.

Marco Rubio, U.S. Secretary of State: There is no plan B for Gaza. Plan B is going back to war. No one here wants that.

Geoff Bennett:

In Gaza, peace feels remote. Tents now cover swathes of devastated land. Children play with makeshift lanterns made from empty soda cans. And long lines for food remain a daily reality.

Ismail Sheikh Al-Eid, Displaced Palestinian (through interpreter):

Rain, wind and cold in the tents. What are people supposed to do? How can the young people live in tents like these?

Geoff Bennett:

For now, conditions on the ground suggest the Board of Peace faces a formidable test.

And hopes for peace are also being tested in the occupied West Bank. The Palestinian Health Ministry says Israeli settlers shot and killed a Palestinian-American in a village north of Jerusalem. Mourners held a funeral today for Nasrallah Abu Siam. A witness said settlers tried to attack a farmer and the 19-year-old was killed in the violence that followed.

Israel's military says its soldiers had stepped in to disperse a riot. Human rights groups say Abu Siam was the first Palestinian killed by settlers this year. The U.N. estimates 240 Palestinians were killed in the West Bank in 2025.