The United Nations Peace and Development Trust Fund (hereafter referred to as "UNPDF") was established in 2016, following the pledge by the Government of the People's Republic of China to contribute $200 million US dollars to the United Nations over a ten-year period. The United Nations and the Donor Government aim to work together to achieve the goals of the Charter of the United Nations through implementation of innovative, forward-looking and pro-active projects and activities financed by the Trust Fund.

In September 2020, during the General Debate of the 75th Session of the General Assembly, the President of the People’s Republic of China, His Excellency Xi Jinping announced that China will extend the Peace and Development Trust Fund beyond its expiration in 2025 for an additional five years.

UNPDF has two sub-Funds. The Secretary-General's Peace and Security Sub-Fund, is aimed at financing projects and activities related to the maintenance of international peace and security. And the 2030 Agenda for Sustainable Development Sub-Fund, is intended to finance activities in support of the 2030 Agenda and the Sustainable Development Goals adopted by Member States in September 2015.

Since its inception, UNPDF has supported projects and activities around the world, covering areas including peacekeeping security, rapid response system, prevention and mediation, counter-terrorism, strengthening partnership between the United Nations and regional organizations, poverty alleviation, science and technology, small- and medium-sized enterprise, education, health care, etc.