Trump proposes $1 billion fee for permanent seats on his peace board

The Trump administration is asking countries that want a permanent seat on his new Board of Peace to contribute at least $1 billion, Bloomberg News reported on Saturday, citing a draft charter.

The draft charter shows that the body would be dedicated to resolving conflicts around the world, rather than being limited to overseeing postwar transitional governance in Gaza.

Under the proposal, the committee would be led by U.S. President Donald Trump as its inaugural chair, with members appointed by him. Each member state would serve a term of no more than three years, while the chair would be eligible for reappointment.

"Each Member State shall serve a term of no more than three years from this Charter's entry into force, subject to renewal by the Chairman. The three-year membership term shall not apply to Member States that contribute more than USD $1,000,000,000 in cash funds to the Board of Peace within the first year of the Charter's entry into force," the draft says.

According to the report, some observers have voiced concern that Trump, a longtime critic of the United Nations, may be seeking to establish an international organization that could serve as an alternative to or a rival of the UN.

White House officials didn't immediately reply to a request for comment.