President Xi Jinping told the United Nations on Saturday that China would pledge $2 billion as an initial investment for development assistance to the poorest countries.
Addressing a United Nations summit meeting on development, Mr. Xi said China would increase its funds to $12 billion over the next 15 years to help the United Nations reach a goal of eliminating extreme poverty by 2030.
"To solve various global challenges, including the recent refugee crisis in Europe, the fundamental solutions lie in seeking peace and realizing development," Mr. Xi said.
"It reflects an acceptance of China's increasing global responsibility," said Douglas H. Paal, vice president of the Carnegie Endowment for International Peace.
The $2 billion pledged by Mr. Xi gave a considerable boost to the United Nations' new Global Goals for Sustainable Development announced on Friday, but there were few details about how the funds from China or other member countries would be spent.
