Overview
- World Bank President Ajay Banga, in a letter to U.S. Ambassador Mike Waltz, endorsed draft language authorizing a two-year transitional governance body for Gaza.
- The draft would establish a “Board of Peace” empowered to create operational entities for reconstruction and economic recovery.
- The text asks the World Bank and other institutions to mobilize financing, including a donor-governed trust fund, and the Bank says it is preparing to engage on day one.
- It would also authorize a two-year International Stabilization Force permitted to “use all necessary measures” to carry out its mandate.
- The United States circulated the draft on Wednesday, cites backing from Egypt, Qatar, Saudi Arabia, Turkey, and the UAE, and is revising the text based on feedback as it seeks a vote in weeks.