Blair 'owes It to the Middle East'

Tony Blair is determined to dedicate 10 days a month to his unpaid role as Middle East envoy because of the strong sense of obligation he feels following the Iraq war, it emerged today.

The former British prime minister, who earlier announced that he is to become a part-time adviser to JP Morgan, one of Wall Street's best-known banks, for an annual salary of about £500,000, is said to be most interested in the interface between faith and politics.

Blair was formally accepted into the Catholic church last month, and told today's Financial Times that he planned to launch an inter-faith foundation this year.

Those who know him well have told Guardian Unlimited that Blair "feels he owes it to the Middle East, after Iraq, to stay with the region and do what he can to address the central question of Palestine".

It is understood Blair has turned down a number of big-money offers he felt were unsuitable before agreeing to work for JP Morgan. In addition to his inter-faith foundation, he is expected to undertake some work to help tackle climate change.

The move is likely to quash speculation that Blair was being lined up for the first presidency of the European Union. While at Number 10, Blair often displayed impatience with the Brussels bureaucracy.

The former prime minister is also said to have started writing the first 10,000 words of his memoirs.

"Tony looks fantastic, but he's still working very hard. He thrives on pace," explained a source close to Blair.