I think the idea of a Peace Corp is a wonderful idea and we could always create something even better than the US Peace Corp (though this still wouldn't change the fact that they can still lay claim to having initiated it).
I could see the establishment of a Commonwealth Peace Corp with a few improvements added. For example, in the Canadian military it is possible to sign a ten year contract whereby the government offers five years of education in exchange for five years of service. A Commonwealth Peace Corp could introduce this added bonus, except that it would be five years of volunteer work instead of paid work like in the military.
A Corp de la Paix de la Francophonie could likewise be created as a francophone parallel organization. What would be your thoughts on this?