Finance Minister Says Canada Won’t Pay $1 Billion for Permanent Trump ‘Board of Peace’ Seat

Finance Minister François-Philippe Champagne says Canada doesn’t intend to pay $1 billion to join the “Board of Peace,” an entity established by U.S. President Donald Trump to oversee the stabilization and reconstruction of the Gaza Strip.

“There’s a lot of details to be worked out, but one thing which is clear is that Canada is not going to pay if we were to join the Board,” Champagne told reporters while attending the World Economic Forum (WEF) annual meeting in Davos on Jan. 20.

Official details on the Board have not been released, but a U.S. official said the $1 billion entry fee is for countries seeking a permanent seat in the body, with the funds destined for Gaza. Countries can also join without the fee for a three-year term.

Prime Minister Mark Carney also spoke on whether Canada will pay the $1 billion fee on Jan. 20 but he wasn’t as definitive as Champagne.

“We would write cheques and deliver in kind to improve the welfare of the people” of Gaza, he said when asked about the issue after delivering a speech to a WEF audience.

Russian President Vladimir Putin has also been offered a seat, while his neighbouring ally Belarusian leader Alexander Lukashenko said he has officially joined the body.

Asked by reporters if Canada would still join if Russia is part of the board, Champagne repeated there’s a “lot to be worked out” and that Carney believes it’s important for Canada’s voice to be heard.

“The prime minister will have to make the final decision when all the facts are known and all the details have been hammered out, whether this is in the best interest of Canada to be part of,” he said.

Trump allies Argentine President Javier Milei and Hungarian Prime Minister Viktor Orban have accepted the invitation to join the Board.

Meanwhile, France has been reluctant to join. It is one of eight European countries Trump threatened to slap tariffs on for their stance opposing the U.S. takeover of Greenland.

Trump said he would put 200 percent tariffs on French wines to compel French President Emmanuel Macron to join the Board of Peace.

During a visit in Qatar on Jan. 18, Carney said Trump had invited him to join the board some weeks ago and that he had “in principle” accepted the offer.

Trump announced the launch of the Board of Peace on Jan. 15, followed by the founding executive members. Those include U.S. Secretary of State Marco Rubio, senior White House advisers, and former British Prime Minister Tony Blair.

The launch of the Board coincides with the beginning of the second phase of Trump’s 20-point peace plan for the Gaza Strip. The White House on Jan. 16 announced who would lead the transitional technocratic administration of the Strip—Palestinian official Ali Shaath—and who will command the International Stabilization Force—U.S. Major General Jasper Jeffers.

This follows Israel and Hamas agreeing to a cease-fire in October after two years of war. Israel sought to eliminate Hamas after it launched raids inside Israel in October 2023.

Carney, following his speech at the WEF on Jan. 20, said he welcomed the recent developments in relation to Gaza, including the process to establish the Board of Peace.

“This is a positive vehicle,” he said. “Our view is, we need to work on the actual structure of the vehicle.”

Carney also addressed whether he sees this entity as being set up only for Gaza or whether he sees it eventually playing a larger role in world affairs.

“Is it for Gaza? Well, the U.N. Security Council Resolution 2803 references a Board of Peace for Gaza,” he said. “That’s where we see it becoming immediately operative, and it needs to be, in our view, it’s better to be designed in that way for the immediate needs there.”

Argentine President Milei posted on social media the Jan. 16 invitation letter he received from Trump to join the Board of Peace that suggests the body will seek to tackle broader issues.

Trump calls the Board a “bold new approach” to resolving global conflicts. The president has been critical of international organizations like the United Nations and its ability to solve conflicts.