The Trump administration is asking countries seeking a permanent seat on a proposed Gaza Strip "Board of Peace" to commit at least $1 billion in funding, according to a report Saturday from Bloomberg.

Under the plan, President Donald Trump would serve as the board's inaugural chairman, with the body intended to oversee postwar governance, security coordination and reconstruction efforts in Gaza.

The funding requirement is aimed at ensuring participating nations have a significant financial stake in stabilizing the territory and supporting long-term redevelopment.

Bloomberg reported that the proposal has been discussed with U.S. allies and regional partners as part of broader diplomatic efforts to shape Gaza's future following the Israel-Hamas conflict.

The administration has argued that international burden-sharing is essential to avoid placing the cost of reconstruction primarily on U.S. taxpayers.

A United Nations Security Council resolution endorsed the plan's framework, authorizing both the Board of Peace and an international stabilization force to help manage security and civilian administration in Gaza.

The initiative has drawn mixed reactions, with some countries and international figures joining the effort while Israel has publicly criticized aspects of the board's formation and coordination. Despite reduced large-scale hostilities since the ceasefire began, violence and diplomatic tensions persist as stakeholders work toward longer-term stability and governance arrangements.

The plan has not yet been formally announced, and details about the board's authority, membership and timeline remain under discussion, according to the report.