'Everybody wants to be a part of it': Donald Trump launches 'Board of Peace' for Gaza

US President Donald Trump on Thursday launched his Board of Peace, originally intended to help end the Gaza war but which he ​now sees having a wider role that Europe and some others fear will rival or undermine the United Nations.

Various countries, including Pakistan, Azerbaijan, and the UAE officially signed the agreement on Thursday, which Trump says permanent members must help fund with a payment of $1 billion.

"Today the world is richer, safer, and much more peaceful than it was just one year ago. We put out all those fires... We were very happy to stop the war that had started with India and Pakistan, two nuclear nations. I was very honoured when the Prime Minister of Pakistan said President Trump saved 10 and maybe 20 million lives by getting that stopped just before bad things were going to happen," Trump said at the event in Davos.

The board's creation was endorsed by a United Nations Security Council resolution as part of Trump's Gaza peace plan, and UN spokesperson Rolando Gomez said on Thursday that UN engagement with the board would only be in that context.

Trump at ​the "Board of Peace" ‌ceremony ‌in Davos that ⁠there was a commitment ⁠to ⁠ensure ‌Gaza ‌was demilitarised ‍and "beautifully rebuilt".

New agency TASS reported that Russia is ready to send $1 billion to the Board of Peace to support Palestinian people.

Russia said late on Wednesday it was studying the proposal after Trump said ⁠it would join. France has declined. Britain said on Thursday it was not joining at present. China has not yet said whether it will join and India is yet to take call on the invitation presented by the US President.

At the event, Trump called the Board "one of the most consequential bodies ever created", and that "every country wants to be a part of it".

“Congratulations President Trump, the charter is now in full force, and the board of peace is now an official international organization,” White House Press Secretary Karoline Leavitt says at the signing ceremony.