A draft charter sent to about 60 countries by the US administration calls for members to contribute $1 billion in cash if they want their membership to last more than three years, according to the document seen by Reuters.

“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 document, first reported by Bloomberg News, shows.

“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.”

According to the White House announcement on Friday, founding executive members of the BoP include US Secretary of State Marco Rubio, US Special Envoy to the Middle East Steve Witkoff, former British prime minister Tony Blair, and Jared Kushner, President Trump’s son-in-law. Other members include Marc Rowan, CEO of Apollo Global Management; World Bank Group President Ajay Banga; and US Deputy National Security Adviser Robert Gabriel.

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Leaders from more than 60 countries have been invited to serve on the Peace Council. Canadian media reported that Prime Minister Mark Carney accepted an invitation to join. Argentine President Javier Milei publicly confirmed his acceptance, calling it “an honor” and stating that Argentina would stand with countries that “confront terrorism head-on and promote peace and freedom.”