The Trump administration is proposing a $1 billion payment for permanent membership on the newly established Board of Peace, a UN-backed body overseeing the Israel-Hamas ceasefire.

President Trump is expected to serve as the board’s inaugural chairman, with authority to invite members and approve decisions, while member states would otherwise serve three-year terms.

The board’s mandate is to rebuild Gaza, with “virtually every dollar” raised going toward that effort, though the location of collected funds remains unclear.

Invitations have gone out to several countries, including Canada, Argentina, Hungary, India, Jordan, Greece, Cyprus, and Pakistan, with more announcements expected, CNBC has reported.

A founding executive board has been appointed, featuring Trump’s son-in-law Jared Kushner, former UK Prime Minister Tony Blair, U.S. Secretary of State Marco Rubio, World Bank President Ajay Banga, and others to oversee Gaza’s stabilization and reconstruction.