U.S. President Donald Trump is set to formally announce the first charter of his so-called “Board of Peace” at a signing ceremony in Davos, Switzerland, on Thursday.

The body, designed to help resolve international conflicts, comes with a $1 billion price tag for permanent membership. Although it was initially conceived to oversee the rebuilding of Gaza, a draft of the charter suggests its mandate will extend beyond the Palestinian territory.

A senior White House official said on Wednesday that about 35 world leaders have so far committed to joining the Board of Peace, out of roughly 50 invitations sent.

Countries that have agreed to participate include Middle East allies Israel, Saudi Arabia, the United Arab Emirates, Bahrain, Jordan, Qatar and Egypt. NATO members Türkiye and Hungary have also signed on, alongside Morocco, Pakistan, Indonesia, Kosovo, Uzbekistan, Kazakhstan, Paraguay, and Vietnam.

The initiative is being positioned as a new multilateral platform for conflict resolution, with Trump’s administration framing it as a major diplomatic and reconstruction-focused effort.