At the Board of Peace’s debut session, Banga clarified the bank’s ‘limited trustee’ status, executing directives from the new oversight body. Reacting promptly to a UN Security Council green light, the institution has fully operationalized the fund, primed for incoming contributions.

‘Accountability is non-negotiable,’ Banga asserted, detailing stringent protocols for tracking every dollar. A dedicated financial controller from the World Bank, on loan to the board, will enforce elite standards in finance and monitoring.

Delving into the bank’s strategic contributions, Banga highlighted three pillars: optimizing public funds by tapping high credit ratings for bond issuances; mitigating risks for private sector inflows via innovative guarantees; and applying decades of fieldwork knowledge to on-site projects.

Far from a passive observer, the World Bank pledges deep engagement. The agenda includes overhauling homes, roads, schools, and hospitals, plus instituting fresh governance in Gaza. Heavyweight donors, led by a $10 billion US vow, have stepped up with massive commitments.

This institutional backbone could redefine postwar recovery, offering Gaza a credible shot at renewal amid years of turmoil.