The global fund that was spearheaded by first daughter Ivanka Trump to help women entrepreneurs has officially begun operations.
The Women Entrepreneur Finance Initiative, run by the World Bank, aims to raise $1 billion to empower women in developing companies.
During an event at the World Bank headquarters in Washington, D.C., on Saturday, Trump said empowering female entrepreneurs is “critical” to economic development.
“It’s more than important – it’s critical as we think about sustained, inclusive, global economic growth. Fully unleashing the power of women in our economy will create tremendous value but also bring much needed peace, stability, and prosperity to so many regions,” Trump said.
The bank announced in July it had raised $325 million from numerous countries, with $50 million coming from the U.S.
“The world economy will grow and millions of people will be lifted out of poverty,” President Trump said of the initiative at the G-20 summit in Germany this summer. “Millions and millions of people.”
