Israeli Prime Minister Benjamin Netanyahu said Wednesday he has agreed to join US President Donald Trump’s newly formed Board of Peace, reversing earlier concerns raised by his office over the composition of the board’s executive committee, which includes regional rival Turkey.

In a statement, Netanyahu’s office confirmed he had accepted Trump’s invitation.

Initially conceived as a small group of leaders to oversee a Gaza ceasefire framework, the Board of Peace has since expanded significantly. The Trump administration has broadened its scope, inviting dozens of countries and suggesting the body could play a role in mediating global conflicts, resembling an informal UN Security Council.

Further details are expected Thursday, when Trump is scheduled to make an announcement about the initiative at the World Economic Forum in Davos, Switzerland.

Although the board’s charter has not been officially released, a draft obtained by The Associated Press suggests substantial authority would rest with Trump. According to the draft, a $1 billion contribution would guarantee permanent membership.

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At least eight countries- Israel, the United Arab Emirates, Morocco, Vietnam, Kazakhstan, Hungary, Argentina and Belarus have agreed to participate. Invitations have also been sent to leaders in Paraguay, Canada, Egypt and Turkey, while Russia, India, Slovenia, Thailand and the European Union’s executive arm have confirmed receiving invitations.

The Kremlin said it is reviewing the proposal. Trump has confirmed that Russian President Vladimir Putin was invited.

The executive board includes senior US officials and international figures, while a separate Gaza Executive Board will oversee implementation of the ceasefire’s second phase, including security deployment, Hamas disarmament and reconstruction efforts.