The "Peace Council," an initiative spearheaded by U.S. President Donald Trump, is holding its inaugural meeting in Washington on Thursday, aiming to address the reconstruction of Gaza and broader conflict resolution. Forty-seven countries are participating, with the European Union attending as an observer. Notable attendees include Israeli Foreign Minister Gideon Saar, Hungarian Prime Minister Viktor Orbán, and Argentinian President Javier Milei, alongside representatives from Egypt, Jordan, and several Central Asian nations. While many traditional U.S. allies and rivals have abstained, some European countries like Italy and Germany will also observe. The council's agenda includes financial commitments of $5 billion for Gaza's reconstruction and the deployment of thousands of military personnel for a stabilization force, though experts question the adequacy of these funds and the council's overall credibility and potential to rival the United Nations.