The bell has been founded by the World Peace Bell Association - a Japanese organization whose purpose is to raise awareness of the world peace movement. They do so by casting and locating peace bells all over the world in major cities.
The idea originated in Japan, so dramatically affected by the A-bomb. Hence the Association and its mission to eradicate war and all nuclear weapons from the earth.
And Warsaw, who saw war (see the pun?), destroyed in 80%, erased to the ground in many places - it's a perfect place to call for peace.
This is why Warsaw is one of 19 capitals where peace bells are located. Actually it's not the first peace bell to stand here. Originally a bell was founded already in 1989, in a different place, just standing freely among blocks of flats. Unfortunately it was stolen a few years later. So this is the second attempt ;-) I believe it will be more succesful, as this one is located on the premises of a culture centre, so here it will be constantly surveyed. Also the backdrop is well fitting: the green, the quiet... Additionally, some Japanese themed events take place here every year.
Beside the bell pagoda there's also a wooden pole with a prayer for peace in Polish and in Japanese.
By the way... Last year I took part in a short report about this place for the local TV channel. It's all in Polish, but you can see the whereabouts and a broader view. My part starts at 00:46 min.
A few words about Służewski Dom Kultury (Służewiec Community Centre), the host of the bell. It's located in a valley of the Służew Stream (Potok Służewiecki). In its present form it was opened in 2013. Its modern form borrows from countryside settlements and hints of Scandinavian achitecture. Super charming and functional.
And just to compare - this is a peacebell in Hiroshima.
And the peace bell of New York in front of the UN head quarters.