President Trump has put a $1 billion price tag on membership for nations who wish to permanently join his new 'Board of Peace'.

Trump announced his plans for the new organization on Friday, explaining that the initiative was a 'vital step' in implementing his 20-point Comprehensive Plan to End the Gaza Conflict.

'The Members of the Board will be announced shortly, but I can say with certainty that it is the Greatest and Most Prestigious Board ever assembled at any time, any place,' the president later said on Truth Social. 

Critics have speculated that the Board of Peace may be intended to replace the United Nations.

A draft charter for the BOP, first reported by Bloomberg, stated that each member state would serve a maximum of three years, unless $1 billion is contributed within the first year. 

A US official confirmed to the Daily Mail that there is no requirement to contribute the funds, but those who do are granted permanent membership rather than a three-year term. 

The money raised by the board is intended to fund the administration's efforts to rebuild Gaza, officials said. 

The Board of Peace was described in the charter as, 'an international organization that seeks to promote stability, restore dependable and lawful governance, and secure enduring peace in areas affected or threatened by conflict.'

Trump says he will serve as chairman of the board, and as such he would control the money. Sources familiar with the board told Bloomberg that several nations have strongly opposed the draft. 

The BOP resembles the mission of the United Nations, with critics reportedly concerned that Trump is attempting to replace the organization with his own. 

Even though the mission began as a means to end the war in Gaza, letters sent to world leaders suggested the board would take a broader approach to resolving international conflicts. 

'This is a US shortcut in an attempt to wield its veto power on world affairs,' Daniel Forti, head of UN affairs at the International Crisis Group, told the Associated Press. 

A US official clarified to AP that the BOP wasn't intended to replace the UN, but suggested it could motivate international leaders to act. 

However, two diplomats told Reuters that the letter sent to international leaders called the BOP a 'bold approach to resolving Global Conflict.' 

'It's a "Trump United Nations" that ignores the fundamentals of the UN charter,' one diplomat described the BOP to Reuters. 

The Board of Peace for Gaza would operate under the BOP. As chairman, Trump would also have the power to choose who would be invited to the board, the group's official seal, and would have final approval over all voting matters, according to the draft charter. 

The BOP would be responsible for broader peace relations, while the Gaza Executive Board is specifically tasked with rebuilding the Gaza Strip. 

Trump would also reportedly have the power to remove members and approve the agendas. 

The charter states that the BOP would meet once a year for voting meetings and at least quarterly for non-voting meetings. 

In addition, as the board's chairman, Trump would have the power to choose his successor.  

Sources told Bloomberg that several European nations have been invited to join the BOP. 

Argentinian President Javier Milei and Canadian Prime Minister Mark Carney have reportedly been asked to join the BOP for Gaza.

Trump has already appointed several members to the BOP's Executive Board, including Secretary of State Marco Rubio, United States Special Envoy to the Middle East Steve Witkoff, Deputy National Security Advisor Robert Gabriel and White House advisor Jared Kushner. 

Sir Tony Blair, billionaire businessman Marc Rowan, and President of the World Bank Group Ajay Banga were also named as Executive Board members.

The president also announced additional members of the Gaza Executive Board. In addition to the members of the BOP, Turkish politician Minister Hakan Fidan, senior Qatari official Ali Al-Thawadi, Egyptian intelligence leader General Hassan Rashad, United Arab Emirates Minister Reem Al-Hashimy and former member of the European Parliament Nickolay Mladenov.

Mladenov is expected to liaise between the board and the Palestinian-run National Committee for Administration of Gaza (NCAG). 

Ali Shaath, the general commissioner of the NCAG and former Palestinian Authority deputy minister, said the committee would work to rebuild the Gaza Strip under the guidance of the BOP and Trump. 

The Israeli prime minister's office said the BOP's Gaza Executive Board was 'at odds with Israeli policy.' 

The appointment of multiple Turkish and Egyptian figures has been viewed as anti-Israeli. 

Turkish President Recep Tayyip Erdogan previously compared Netanyahu to Adolf Hitler and praised Hamas.