The Board of Peace proposed for Gaza is not designed to replace the United Nations, World Bank President Ajay Banga said in Davos, stressing the need for broad international alignment, including the UN, for any peace effort to succeed.
Speaking to NDTV CEO and Editor-in-Chief Rahul Kanwal on the sidelines of the World Economic Forum, Banga pointed to U.S. President Donald Trump's recent comments at the UN General Assembly. "Trump said he wanted to work with the UN," Banga noted. "In his speech at the UNGA, he said the UN has potential but is it living up to that potential?".
Banga framed the debate as part of a larger question about the UN's role and credibility. "It is important to get the right political buy-in. This is not an alternative to the UN," he said.
The Board of Peace, announced last week by the White House, is intended to oversee temporary governance in Gaza following the disarmament of Hamas. It comes amid a fragile ceasefire that has failed to halt all violence since October.
Banga called the moment "a once-in-a-lifetime opportunity to make a difference" in Gaza and the broader Middle East. "There's a billion people living in the Arab world. This has regional and global implications," he said.
He emphasized that the World Bank is not operating in isolation. "We're working not just with the U.S., but also the Saudis, Qataris, and Turks," he said. "Can we be helpful? That's the question."
Banga also revealed that two years ago, he initiated a panel including Israeli, Palestinian, American, and European experts. The group was tasked with advising the World Bank on its potential role in a post-conflict Gaza. "If there is a chance of peace, when that peace happens what should the World Bank do? That's what we've been preparing for."
The Bank has already submitted a comprehensive roadmap for Gaza, developed with input from stakeholders. The four-pillar plan includes: rebuilding Gaza's urban infrastructure; rehabilitation and reskilling of civilians; private sector mobilization; and economic integration through trade and digital platforms.
"The issue here is, can we turn the page on two years of trauma?" Banga said. "Once Hamas is disarmed, can we create opportunities for reconstruction and better lives for Palestinians?."
