President Donald Trump convened the inaugural meeting of his newly formed Board of Peace in Washington, D.C., declaring that the initiative will help resolve the war in Gaza and reinforce global stability.

Speaking at the newly renamed Donald J. Trump U.S. Institute of Peace, Trump said the board would work alongside the United Nations while also ensuring the international body “runs properly.”

“I think the United Nations has great potential. It has not lived up to that potential,” Trump said. “The United Nations, I think, is going to be much stronger, and the Board of Peace will be looking over the United Nations and making sure it runs properly.”

The president emphasized that his administration intends to support improvements to U.N. operations and facilities, stating the organization is important but has failed to reach its full promise.

The meeting brought together representatives from 48 countries, the European Union, and FIFA. Over a dozen nations made financial pledges aimed at stabilizing Gaza and supporting long-term reconstruction. Trump announced a $10 billion U.S. commitment to the board.

Additional pledges included $1.2 billion from the United Arab Emirates, $1 billion from Saudi Arabia, and more than $1 billion from Qatar to support what Qatari Prime Minister Mohammed Abdulrahman Al Thani described as a final resolution addressing Palestinian statehood aspirations and Israeli security concerns. Contributions from Kazakhstan, Azerbaijan, Morocco, Bahrain, Uzbekistan, and Kuwait brought total non-U.S. commitments to roughly $7 billion, according to Trump.

Several countries, including Indonesia, Morocco, Kazakhstan, Kosovo, and Albania, pledged troops for a proposed International Stabilization Force in Gaza. Turkey also indicated it would contribute forces, though Israel has reportedly objected to Turkish troop participation.

Kazakhstan President Kassym-Jomart Tokayev pledged significant funding and scholarships for 500 Gaza students, while Romania committed medical treatment for 4,000 children and assistance in rebuilding Gaza’s fire safety infrastructure.

Trump declared that the war in Gaza is over and warned that Hamas must surrender its weapons or face severe consequences.

“The Board of Peace is going to lead the way in Gaza,” Trump said. “We’re going to make Gaza an example of success and safety and unity.”

Trump was joined at the meeting by Vice President JD Vance, Secretary of State Marco Rubio, U.S. Special Envoy Steve Witkoff, White House Chief of Staff Susie Wiles, and Jared Kushner, who previously helped broker Middle East agreements.

While some Western nations declined to participate, Trump expressed confidence that broader international buy-in would follow. He maintained that the Board of Peace is not designed to compete with the United Nations, but to strengthen it and help deliver tangible results in conflict zones worldwide.