The Trump administration has named US Secretary of State Marco Rubio and former UK Prime Minister Sir Tony Blair as two of the founding members of its 'Board of Peace' for Gaza.

Trump's Middle East envoy Steve Witkoff and the President's son-in-law Jared Kushner will also sit on the 'founding executive board', according to a White House statement released Friday.

Trump will act as chairman of the board, which is part of his 20-point plan to end the ongoing war between Israel and Hamas. The board is expected to temporarily oversee Gaza's operations and manage its reconstruction.

Other members of the board include Marc Rowan of private equity, World Bank chief Ajay Banga, and US National Security Adviser Robert Gabriel, each tasked with portfolios critical for Gaza's stabilization.

Trump claimed the board is the 'Greatest and Most Prestigious Board ever assembled at any time, any place', with plans for additional members to be announced soon.

Tony Blair served as UK Prime Minister from 1997 to 2007 and has experience in Middle Eastern diplomacy as he was an envoy for the Quartet (the US, EU, Russia, and UN) following his premiership.

This announcement follows the formation of a separate 15-member Palestinian technocratic committee, known as the National Committee for the Administration of Gaza (NCAG), which will manage day-to-day governance in the post-war region.

Ali Shaath, a former deputy minister in the Palestinian Authority, has been appointed to head this new committee, while Nickolay Mladenov, former UN Middle East envoy, will represent the board on the ground in Gaza.

Trump's plan also details the deployment of an International Stabilisation Force to train and assist a vetted police force in Gaza, aiming to establish security and a durable, terror-free environment.

As part of the peace efforts, a ceasefire agreement between Hamas and Israel was reached in October, including a hostage exchange and a partial withdrawal of Israeli forces. However, reports indicate ongoing tensions and violence in the region.

Overall, this substantial peace initiative highlights the significant roles that international and local leaders are expected to play in reshaping Gaza's future amid ongoing conflict.