President Donald Trump announced Thursday that he intends to name his son-in-law Jared Kushner as a special peace envoy, unveiling the decision at his “Board of Peace” event, attended by more than a dozen world leaders.

Trump touted the efforts of his new organization to stabilize and rebuild Gaza, including pledging a $10 billion U.S. commitment, though the details of what it would be used for are hazy.

Trump said Kushner would focus on brokering new diplomatic agreements and praised his previous role in Middle East negotiations, including the Abraham Accords. “Very smart guy. We’re making Jared also an envoy of peace. They’re both envoys of peace, and I tell you what. I watch these guys, I say, at least we’re covered from an IQ standpoint,” Trump said of Kushner and Steve Witkoff, who is already a special envoy.

Kushner, who served as a senior adviser in the first Trump White House, played a central role in the administration’s efforts to normalize relations between Israel and several Arab states. Kushner and Witkoff have worked together throughout the second Trump administration on negotiations in the Middle East and the Russia-Ukraine war.

“We cannot change the past, but I think that what you’re seeing today is that we can potentially change the future if we focus and do this in the right way,” Kushner said, asserting that the board’s approach, modeled on the private sector, was an attempt to bring long-warring countries in the region and the entire world together in search of solutions. “If Jews and Muslims work together, Israelis and Palestinians, with Americans and English and Bulgarian and people from all around the world, then we can kind of join on a common goal, which is peace and togetherness.”

Ali Shaath, the leader of the National Committee for the Administration of Gaza, which was set up to manage day-to-day operations and eventually succeed the current Hamas administration, attended Thursday’s meeting.

During his 46 minutes of opening remarks, Trump said that his board has secured $7 billion of investments from member countries to fund the rebuilding of Gaza. He later said that the U.S. would commit some $10 billion to the effort — a “small number” compared with the cost of endless war — but gave no indication of whether Congress has approved a new appropriation or where the money would be coming from.

The White House did not immediately respond to an inquiry about where the funding would come from.

The focus on peace came against a backdrop of rising tensions over Iran and the growing possibility of the U.S. launching new attacks against Tehran.

Trump said he’s hoping Iran will make a deal to curb its nuclear weapons program, a program that the president said was decimated just months ago by U.S. strikes. But he left open the prospect of war after moving an immense amount of military resources into the Persian Gulf in preparation for a possible attack.“We may have to take it a step further, or we may not,” Trump said. “You’re gonna be finding out over the next probably 10 days.”