A draft charter sent to about 60 countries by the US administration calls for members to contribute $1 billion in cash if they want their membership to last more than three years, according to the document seen by Reuters.

"Each Member State shall serve a term of no more than three years from this Charter’s entry into force, subject to renewal by the Chairman," the document, first reported by Bloomberg News, shows.

"The three-year membership term shall not apply to Member States that contribute more than USD $1,000,000,000 in cash funds to the Board of Peace within the first year of the Charter’s entry into force."