China will establish a ten year, $1 billion China-UN Peace and Development Fund aimed at supporting the United Nation’s work as well as advance multilateral cooperation, Chinese president Xi Jinping told the United Nations General Assembly on Monday.
China will also take the lead in setting up a permanent police and standby force of 8,000 troops, the President confirmed at the opening session of the general debate. The move could make China one of the largest players in the UN peacekeeping efforts.
“I wish to take this opportunity to announce China’s decision to establish a 10-year, $1 billion China-UN peace and development fund to support the UN’s work, advance multilateral cooperation and contribute more to world peace and development.” President Xi Jinping said.
Xi's pledge comes as China is trying to show it is a responsible international player amid concern over its growing military might and territorial disputes in the Asia-Pacific region, Reuters reports.
Some financial aid will also go to the African Union, as the Chinese government promised to provide $100 million in military assistance in the next five years. The aim is to establish an African stand by force and boost its capacity for crisis response.
The statement was made at the general debate of the 70th session of the United Nations General Assembly at the UN headquarters in New York.
China now provides around 3,000 of the more than 106,500 UN troops, police and advisers deployed by all countries, making it the ninth biggest contributor of peacekeeping personnel.
Currently, the UN has 16 missions with over 120,000 peace keepers deployed all over the world. Their funding costs over $8 billion per year, with nearly a third of the sum provided by the US.