President Donald Trump announced during the inaugural meeting of the Board of Peace on Thursday that nine members agreed to pledge $7 billion toward a Gaza relief package just days after $5 billion was pledged for reconstruction.

The president identified the countries contributing as Kazakhstan, Azerbaijan, UAE, Morocco, Bahrain, Qatar, Saudi Arabia, Uzbekistan and Kuwait. However, it is only a fraction of the estimated $70 billion needed to rebuild the Palestinian territory devastated during the two-year war between Israel and Hamas.

"Every dollar spent is an investment in stability and the hope of new and harmonious (region),” Trump said.

Trump added the U.S. was pledging $10 billion for the Board of Peace, but did not specify what it would be used for.U.S. Ambassador Mike Waltz detailed the vast amount of humanitarian aid that has entered Gaza since the ceasefire began in October.
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