President Donald Trump on Thursday launched a $10 billion initiative, the “Board of Peace,” aimed first at rebuilding Gaza, even as U.S. warplanes and aircraft carriers headed toward Iran under his orders.
Speaking at the former U.S. Institute of Peace, now renamed in his honor, Trump welcomed a mix of allies and leaders eager for U.S. attention, including Hungarian Prime Minister Viktor Orban, Argentine President Javier Milei, Indonesian President Prabowo Subianto, Pakistani Prime Minister Shehbaz Sharif, and FIFA President Gianni Infantino.
FIFA president Gianni Infantino speaks, as he and Argentina's President Javier Milei attend the inaugural Board of Peace meeting at the U.S. Institute of Peace, Washington, U.S., Feb. 19, 2026. (Reuters Photo)
The new board, whose mandate and funding remain opaque, will allow Trump veto power and leadership even after leaving office.
Countries seeking permanent membership beyond two-year terms must contribute $1 billion. Critics dismissed the plan as “a confused mix of ambition and narcissism, unleavened by any effort at intellectual coherence,” while some key U.S. allies opted not to participate, wary of overlapping with existing institutions like the United Nations.
