On Sept. 26, Saturday, China's leader Xi Jinping told the United Nations that China would pledge $2 billion as an initial investment for assisting the development of the poorest countries in the world.

Xi said that China would increase its funds to $2 billion over the next 15 years to help the UN reach its goal of curbing if not eliminating totally extreme poverty in the world by 2030. He addressed this at the UN summit meeting on development, according to The New York Times.

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China, in making its pledge, puts justice before interests to solve different global challenges, which include the current refugee crisis in Europe. Xi added that the fundamental solutions merely lie in seeking peace as well as realizing development.

The announcement of the promised billions of dollars was an act of response by the United States' criticism that China did not do anything like taking responsibility for reducing poverty, including most of its Asian neighbors. As it is, China is considered as the world's second largest economy and can afford to do more if it wants to.

The Chinese leader also becomes an active investor around the world. However, it is seeking more resources rather than broader humanitarian objectives, said ABC News.

Meanwhile, the $2 billion that has been pledged by Xi gave a considerable boost to the UN's new Global Goals for Sustainable Development; however, there were only a few details about how the funds from China or other member countries would be spent as the country had not decided yet if it would be distributed as loans or in cash.

In January, Xi promised $250 billion as investment over 10 years in the Latin America that the U.S. has long considered its sphere of influence. In relation to this, China showed an effort to be generous by deploying 600,000 Chinese aid workers to 166 countries.

Tagsglobal poverty, Global Goals for Sustainable Development, UN Summit